The Gazprom Headquarters today has hosted a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Malcolm Wicks, UK Minister of State for Energy.

The parties addressed the prospects for broader sales of Russian gas in the UK market as well as joint activities of Gazprom and British energy companies in the oil and gas sector.

The parties discussed the progress with the agreements on cooperation deepening between Gazprom and BP, including in the natural gas and LNG supply area.

Alexey Miller and Malcolm Wicks appreciated the work done by Gazprom Marketing & Trading in the UK energy market.

Reference:

The UK has been net importer of natural gas since 2004. According to projections by a number of Western experts, the country’s needs in gas import will reach 40 bcm by 2010. The Nord Stream gas pipeline is to be a new channel of gas deliveries to the UK.

Since 1999 Gazprom has been involved in short-term trading in natural gas in the UK and actively increased gas deliveries to the UK market. In 2006 the UK was supplied with 8.7 bcm of natural gas.

In April 2006, Gazprom Marketing & Trading Ltd. supplied its first liquefied natural gas to the Isle of Grain terminal (UK). The cargo purchased from Gaz de France was sold to BP which owns capacity at the terminal. The volume of the LNG averaged 140,000 cu m (around 85 mmcm of natural gas).

On June 22, 2007, Gazprom, BP and TNK-BP entered into an Agreement on the major terms. The Agreement contemplates establishing a strategic alliance between the companies for making long-term investments in joint energy projects as well as stipulates asset swaps both in Russia and third countries.