On April 17, as part of the celebrations dedicated the 40th anniversary of Russian natural gas supply to Austria, Vienna hosted a meeting between Alexander Medvedev, Deputy Chairman of the Management Committee of Gazprom and Alfred Gusenbauer, Federal Chancellor of Austria.

The parties addressed the possibilities of boosting Russian gas supply and improving the UGS system, issues of interaction within the development project for the Central European Gas Hub at Baumgarten as well as matters relative to the South Stream gas pipeline construction.

The parties pointed to the fruitfulness of the Russian-Austrian cooperation in the energy sector and its significance for the European energy security as well as expressed optimism about the prospects for further cooperation.

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Over 2007 Gazprom export supplied Austria with some 5.4 bcm of gas.

In January 2008, Gazprom and OMV signed the Agreement of Cooperation, pursuant to which Gazprom Group will receive a 50 per cent stake in the Central European Gas Hub (CEGH) located at Baumgarten. The Agreement also stipulates implementing joint underground gas storage projects both in Austria and neighboring countries.

CEGH is among Europe’s three largest gas distribution centers and is an international natural gas trading floor.

In 2006 the volume of gas trading at CEGH accounted for 7.7 bcm and in 2007 – about 1.5 bcm per month.

th Stream’s offshore section will run across the Black Sea from the Russian to the Bulgarian coast. The total length of the offshore section will be around 900 km, with the maximum depth exceeding 2,000 m and full capacity averaging 30 bcm. The section is planned for commissioning in 2013.

A number of various routes crossing the territory of the EU member countries are under review for the construction of South Stream’s onshore section.