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Tuesday April 12, 01:04
Putin: energy deal with Germany integrates Russia to EU economy
(by Dr. Goldfinger)

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Putin: energy deal with Germany integrates Russia to EU economy

Russia’s President Vladimir Putin praised the energy agreement between Gazprom and German companies saying the move "is a sign of Russia’s integration into European economy in its most important [energy] sphere.»

The deal signed in German city of Hanover «creates favorable conditions for the solution of large-scale tasks we are facing," Putin said.

The energy sphere will help Russia to integrate into the European market and increase the stability of cooperation between Russia and the European Union.

Putin also said that he hoped to improve the cooperation by signing agreements with other EU countries. "The beginning was quite successful and I hope that this fair will promote our cooperation not only with Germany, but also with other countries," he said.

Under the terms of agreement, German companies can explore gas fields on the Russian territory and Gazprom receives a 49% stake in the gas pipeline system on the territory of Germany as well as the possibility to participate in the distribution of gas.
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