OREANDA-NEWS. January 27, 2011.  The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company's Management Committee and His Excellency Yves Leterme, Prime Minister of the Kingdom of Belgium.

The parties addressed the promising areas of Russian-Belgian cooperation in the energy sector placing an emphasis on Russian natural gas supplies to Belgium and its transit to third countries.

Consideration was also given to the principles underlying further interaction between Gazprom and Fluxys including possible utilization of underground gas storage (UGS) capacities in Loenhout (Belgium).

Based on the meeting results, the parties highlighted that long-standing cooperation of Gazprom and Belgian energy companies had a great potential for meeting the growing gas demand on the European continent.

Yves Leterme also visited Gazprom's key production facility, the Central Production and Dispatch Department, and got acquainted with the capabilities of Russia's Unified Gas Supply System enabling to promptly respond to changes in gas demand from European consumers and to take immediate decisions on gas production and transmission modes.

Background

Belgium doesn't produce natural gas as it has no proven gas reserves.

Natural gas consumption in Belgium (around 17 billion cubic meters per year) is secured through imports. In 2009 Gazprom supplied 3.3 billion cubic meters of gas to the country.

Belgian gas transmission company Fluxys possesses a branchy network to convey transnational gas flows through Western Europe. It also deals with natural gas and LNG transit and storage. The Belgian Government holds a “golden share” in the company.