Alexey Miller, Chairman of the Gazprom Management Committee and Peter Loescher, President and Chief Executive Officer of Siemens AG held a meeting today as part of the St. Petersburg International Economic Forum 2011.

The parties summed up the interim results of cooperation giving particular attention to the prospects for the projects in the LNG production technologies development. The meeting participants appreciated the activity of the Gazprom and Siemens joint working groups engaged in the cooperation deepening between the companies across a number of key business lines, particularly equipment procurement and service infrastructure creation for Gazprom's power facilities as well as the energy efficiency projects implementation.

Alexey Miller and Peter Loescher also stressed that Gazprom and Siemens had a good potential for further improvement of the reliable and mutually beneficial partnership in the international energy market.

Background

Gazprom and Siemens have been actively cooperating since 1993 within telecommunications and process automation projects. In particular, the companies created the Moscow digital communication zone and the data transmission network of Gazprom svyaz, the automatic telephone exchange network of Gazprom transgaz Makhachkala, the communications network of Gaztelecom. The companies also automated the comprehensive gas treatment unit in the Yamburg field.

On April 3, 2008 Gazprom and Siemens AG signed the Strategic Partnership Agreement. At the moment, the companies are developing their cooperation in the following directions: innovations, automation, IT, telemechanics and telecommunications; power generation; compressor station equipment; offshore oil and gas field development technologies; security systems for buildings and structures; energy saving and environmental protection; novel medical technologies; project finance.

In June 2010 Gazprom and Siemens inked the Memorandum of Understanding on cooperation in the field of liquefied natural gas.