Gazprom and Siemens developing cooperation on production of electrical equipment in Russia

Background

Siemens AG is a leading manufacturer of electronics and electric tools. The company entered the Russian market in 1853. Gazprom and Siemens promote cooperation in the following areas: automation, telemechanics, power generation, compressor station equipment, oil and gas field development technologies, energy saving, and environmental protection. Siemens AG is the only shareholder of Siemens LLC.

Gazprom Energoholding, a vertically integrated holding company (a wholly-owned subsidiary of Gazprom), manages the production companies of the Gazprom Group in the power generation sector (Mosenergo, TGC-1, OGK-2, and MOEK) under unified corporate standards. The Group generates about 1/6 of all electric power in Russia's Unified Energy System and is the largest producer of thermal power in the world. In particular, the Group supplies power and heat to Moscow, St. Petersburg, and a number of other economically developed regions of Russia.