Gazprom, Vitol discuss cooperation in gas storage, generation
MOSCOW. Feb 7 (Interfax) - Gazprom CEO Alexei Miller and head of trading company Vitol Ian Taylor on Thursday in Moscow discussed the prospects for implementing joint gas generation and storage projects in the European Union.
According to Gazprom, Miller and Taylor discussed the development of interactions in the use of underground gas storage facilities in Europe.
"Based on the results of the meeting, I would especially like to note that we have a common vision of the prospects for energy market development. We are convinced that the world is moving towards gas," Miller said.
Vitol is the second largest oil trader in the world.
Since July 2005, Vitol and Gazprom have been bound by a contract that grants the Russian gas giant access to underground gas storage facilities in Great Britain for up to 227 million cubic meters a year until 2016, inclusive. Last year, the two companies signed a gas storage agreement under which Vitol will provide Gazprom will gas storage services in Europe. This contract is good for 1.15 billion cubic meters of gas in Germany.
