Wednesday, September 17, 2014

Drew EGC Report

Gazprom and RWE Continue Talks

Gazprom and German energy company RWE met today to discuss the potential of a joint venture in the energy sector. Chairman of the Gazprom's Management Committee Alexey Miller hosted Chief Executive Officer of RWE Jurgen Grossmann at Gazprom's headquarters in Russia.

No details of how the companies might cooperate on the joint venture were released.

Gazprom and RWE already have a working relationship on energy following the signing of a Memorandum of Understanding (MOU) on strategic partnership in power generation in Europe in July of this year.

Under the MOU, Gazprom and RWE will be examing the possibility of energy projects in Germany, Benelux and the UK.

"According to the document, the parties will study the issue of setting up the joint venture to be comprised of existing and/or newly built gas- and coal-fired power plants in Germany, the UK and Benelux," a statement from Gazprom said.

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