Gazprom & UK Energy Minister Hold Cooperation Meeting

Gazprom’s Headquarters hosted a working meeting between Alexey Miller, Gazprom’s Management Committee Chairman and Malcolm Wicks, UK’s Energy Minister.

The meeting addressed the outlook of cooperation between Russia and the Great Britain in the gas sector, reviewing, in particular, the possibility of boosting natural gas supply to the UK, and British firms’ involvement in Gazprom-led projects. Special emphasis was placed on the North-European gas pipeline construction and its significance for higher reliability of gas supply to Europe.

According to a number of western analysts, the Great Britain will become a prominent net importer of natural gas by 2010, having import needs of 40 bcm. The North-European gas pipeline (NEGP) will be a new channel of gas supply to the country, with its first line slated for commissioning in 2010.

Since 1999, Gazprom has been engaged in short-term natural gas trading, aggressively boosting gas supplies to the Great Britain. While more than 2.1 bcm (spot deliveries inclusive) was shipped to the Great Britain over 2003, some 4 bcm (partly by WINGAS) was channeled over 2004. Up to 4.2 bcm is scheduled for this year and possible 10 bcm (excluding deliveries by NEGP) will be destined to the British market in 2010.