Gazprom’s Headquarters has hosted a working meeting between Alexander Medvedev, Deputy Chairman of Gazprom’s Management Committee and Bernardo Ivo Cruz, Under Secretary of State Assistant to the Minister for Foreign Affairs of Portugal.

The parties discussed the prospects for Russian natural gas & (primarily) LNG deliveries to the Portuguese market and for Gazprom’s acquisition of existing and planned regasification & transmission capacities in Portugal.

The participants also studied ways of promoting cooperation between Gazprom and the Portuguese company Galp Energia within energy projects in Angola and other Portuguese speaking countries.

The parties expressed a common opinion that establishing long-term partnership relations would be of key significance for successful joint businesses within and beyond the Iberian Peninsula.

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The Portuguese natural gas market is under development. As there is no commercial gas production in Portugal, demand for this energy source is met by its imports from Nigeria (63 per cent) and Angola (37 per cent). Annual consumption is at approximately 3.6 bcm.