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Gazprom, Wingas agree on annual gas supplies via NEGP

AMSTERDAM, June 8 (RIA Novosti) - Gazprom (RT: GAZP) and Russian-German joint venture Wingas GmbH Thursday finalized a deal on Russian gas imports to Germany from 2010 through the North European Gas Pipeline.

Wingas head Rainer Seele said at a global gas conference that his company would annually import 9 billion cu m of natural gas via the $10.5-billion Gazprom-managed project over 25 years.

Seele also said Wingas, 65% owned by Wintershell, a subsidiary of NEGP stakeholder BASF, and 35% by Gazprom, had purchased gas produced in the North Sea to diversify its sources. In 2005, the company signed contracts to buy more than 10 billion cu m of gas, he said adding that Russia accounted for 69% of natural gas imported by Wingas.

Seele said his company was planning to invest in subterranean gas depositories, given growing demand for natural gas in the European Union.

He also said Gazprom and Wingas intended to sign an agreement this year on the establishment of a joint venture, Wingas Europe, which will work outside Germany.

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