French demand for Russian natural gas growing further
Background
The St. Petersburg International Economic Forum 2019 is being held at the EXPOFORUM Convention and Exhibition Centre from June 6 to 8. This year's key topic is Creating a Sustainable Development Agenda.
France's ENGIE SA (prior to 2015 – GDF SUEZ) is focused on natural gas marketing, as well as power generation. ENGIE owns the largest gas transmission network in Europe and is the biggest UGS facility operator in Europe in terms of capacities.
Gazprom and ENGIE cooperate, inter alia, in gas supplies and transmission. The companies also pursue joint cultural projects.
In 2018, Gazprom supplied to France 12.9 billion cubic meters of gas, an increase of 5.4 per cent against 2017 (12.3 billion cubic meters).
Nord Stream 2 is the construction project for a gas pipeline with the annual capacity of 55 billion cubic meters from Russia to Germany across the Baltic Sea. In 2017, Nord Stream 2 AG signed agreements with ENGIE, OMV, Royal Dutch Shell, Uniper, and Wintershall to provide financing for 50 per cent of the total cost of the project.
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