Today, the first line of the Nord Stream gas pipeline between Russia and Europe was officially inaugurated by German Chancellor Angela Merkel together with Russian President Dmitry Medvedev, French Prime Minister François Fillon, Dutch Prime Minister Mark Rutte and European Energy Commissioner Günther Oettinger.
Nord Stream is a major accomplishment for Russia, Europe and GDF SUEZ. It creates a new, more direct route for the supply of natural gas from one of the leading production countries to Western Europe. The diversification of natural gas sources and transmission routes guarantees the security of supply for Group customers in France and across Europe.
At the inauguration of Nord Stream, Gérard Mestrallet, Chairman and Chief Executive Officer of GDF SUEZ – which holds a 9% stake in the project – said: “Nord Stream is a gas pipeline of strategic importance for Europe. GDF SUEZ is proud to be taking part in this major project. This technical and industrial feat contributes significantly to the security of supply in North-Western Europe where the Group is one of the leading energy providers and supplies both natural gas and electricity to millions of customers”.
The natural gas supply portfolio of GDF SUEZ is among the most diversified in Europe. It represents an annual volume of 110 billion m3. With Nord Stream, the Group will benefit from an additional 2.5 billion m3 of natural gas per year from Russia.
About Nord Stream
Nord Stream traces a new transmission route for Russian gas to Europe. Spanning a distance of 1,224 km, this underwater pipeline, comprising two parallel lines, links Portovaya Bay (near Vyborg) with the German coast (near Greifswald) through the Baltic Sea. The first Nord Stream line, which is now completed and operational, has a capacity of 27.5 billion m3 per year. The construction of the second section of the gas pipeline by the end of 2012 will increase this capacity to 55 billion m3.
The Nord Stream project is managed by Nord Stream AG, responsible for the engineering, construction and future operation of the underwater pipeline. The shareholders of Nord Stream AG are: Gazprom (51%), Wintershall Holding and E.ON Ruhrgas (15.5% each), Gasunie and GDF SUEZ (9% each).
Cooperation between Gazprom and GDF SUEZ for the supply of natural gas started in 1975. So far, over 310 billion m3 of natural gas have been delivered to GDF SUEZ. In December 2006, Gazprom and GDF SUEZ signed an agreement for the renewal of the supply contracts until 2030.
About GDF SUEZ
GDF SUEZ (gdfsuez.com) develops its businesses around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: liquefied natural gas, energy efficiency services, independent power production and environmental services. GDF SUEZ employs 218,350 people worldwide and achieved revenues of €84.5 billion in 2010. The Group is listed on the Brussels, Luxembourg and Paris stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Stoxx 50, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, ASPI Eurozone and ECPI Ethical Index EMU.
Investor relations contact:
T: +33 (0)1 44 22 66 29 / E: ir[.]gdfsuez.com.