This step "increases the stability of cooperation in Europe and creates favorable conditions for the solution of large-scale tasks we are facing," the Russian President said during a meeting with the Cabinet members on Tuesday.
He pointed out that in the beginning of the Hanover Trade Fair, Russia and Germany signed a number of agreements and contracts in various spheres of economy. The Russian President stressed the importance of the energy sphere, though.
Putin underlined that Gazprom decided to allow German partners to participate in the development of a large gas fields in Russia and in exchange received assets in the gas transit pipeline network on the German territory.
The Russian President asked Premier Fradkov to thank the officials from various ministries for the help in organizing work at the Russian pavilion at the Hanover Fair.
"The beginning was quite successful and I hope that this fair will promote our cooperation not only with Germany, but also with other countries," the President stated.
On Monday, Gazprom and its German partners signed a document that allows German companies to explore gas fields on the Russian territory. In exchange, Gazprom received comparable value assets of its German partners - a 49% stake in the gas pipeline system on the territory of Germany and the possibility to participate in the distribution of gas.
"The document signed today between Gazprom and BASF essentially opens the way to start the construction of the North European gas pipeline. BASF received 49% of the stake with the right to sell off its parts in order to attract other investors," the Russian President stated during a press conference in Hanover.
"The Russian andGerman companies agreed to participate in joint projects on the territory of third-party countries and in the North Sea. It stabilizes the situation in the energy sphere in Europe and the world," Putin emphasized.
