Gazprom and German Gas Company Renew Sci-Tech Pact

Senior officials of Gazprom have updated a science and technology co-operation pact with Verbundnetz Gas of  Germany.

Alexander Medvedev, deputy chairman of Gazprom, Karsten Heuchert, chairman of the Verbundnetz executive board, and Uwe Barthel, also a board member, signed a Sci-Tech Cooperation Agreement, the Russian gas giant announced in a statement.

 The agreement replaces a similar document of 2008, and will be valid until December 31, 2029.

“Promotion of innovative activities based on equality and mutual benefit is an important component of our partnership. Nowadays the innovations largely determine success on the market,” Medvedev said.

Established in 1969, Verbundnetz Gas (VNG) is a supplier of gas to Germany’s eastern federal lands and Berlin. VNG business activities involve natural gas import, supplies to consumers as well as underground gas storage .

The company’s shareholding structure is : EWE – 47.95, Wintershall Holding – 15.79% plus one share, VNG Verwaltungs und Beteiligungsgesellschaft – 25.79% less one share, EEG – 5.26%, Gazprom – 5.26%.

In 2008 Gazprom and Verbundnetz Gas signed the Sci-Tech Cooperation Agreement that provided for growing partnership between the parties on gas transportation, distribution and utilization, corrosion protection of pipelines, energy efficiency as well as cooperation deepening between the companies within transition economy.