E.ON & Gazprom Extend Gas Supply Contracts
Today E.ON and Gazprom signed contracts in Moscow concerning the delivery of approx. 400 billion cubic meters of gas up to 2036. This is an important contribution towards safeguarding long-term European gas supplies. The annual deliveries of approx. 24 billion cubic meters are equivalent to one third of the gas volume currently purchased by E.ON Ruhrgas. Against the backdrop of fierce global competition to obtain gas, E.ON has therefore succeeded in procuring Russian gas on competitive conditions for the European energy market on a long-term basis.
The two companies signed an extension of 15 years of the existing contracts with Waidhaus as delivery point up to 2035 as well as new supply contracts for additional gas to come via the NEGP to Greifswald on Germany's Baltic coast from 2010/2011 onwards. The NEGP, an important pipeline for European gas supply, is being built by Gazprom, E.ON and BASF. E.ON will also participate in the construction of two new gas pipelines linking the NEGP to the German gas grid.
Wulf Bernotat, CEO of E.ON: "Following our participation in the NEGP, we are again making an important contribution with these contracts towards securing gas supplies for Europe well into the future and further consolidating our position on the European gas market." Burckhard Bergmann, CEO of E.ON Ruhrgas, drew attention to the worldwide competition for gas supplies: "With these contracts we are reinforcing our partnership with the world's largest gas producer. At the same time we are taking steps to replace decreasing supplies from west European sources and are securing additional volumes for the growing European market."
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