OREANDA-NEWS. November 25, 2010. Zurich (Switzerland) hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Christophe de Margerie, Chief Executive Officer and Chairman of the Board of Directors of Total SA.

The meeting addressed the prospects for cooperation deepening between the two companies, including in the form of swap transactions.

Alexey Miller and Christophe de Margerie exchanged information on the largest infrastructure projects of the two companies as well as Gazprom and Total's production targets for the nearest future.
Background

Total is one of the world's largest energy companies. It is present in over 130 countries handling the whole range of operations in the oil and gas sector from upstream to downstream.

On July 13, 2007 Gazprom and Total signed the Framework Agreement on the Main Terms of Cooperation within Phase 1 of the Shtokman Gas and Condensate Field Development. A similar Agreement was signed on October 25, 2007 between Gazprom and Statoil Hydro (currently Statoil).

Under the Agreements, February 2008 saw the setting up of a special purpose company – Shtokman Development AG. Gazprom holds 51 per cent of the company's shares, Total and Statoil – 25 and 24 per cent respectively.