In St. Petersburg, a working meeting has been held between the Chairman of the Management Committee of OAO Gazprom, Alexey Miller, and OMV Executive Board member, Manfred Leitner.
During the meeting a non-binding Memorandum of Understanding between Gazprom and OMV on further long-term business projects was signed. The parties agreed in the Memorandum to evaluate a possible participation of OMV in the project of development of Areas IV and V of the Achimov formation of the Urengoy oil, gas and condensate field in Russia based on a possible exchange of assets.
The Memorandum also sets forth the intentions of the parties to examine a possible cooperation in the project of construction of two lines in addition to the already existing Nord Stream pipeline.
Adapted from press release by Hannah Priestley-Eaton