Alexey Miller, Chairman of the Management Committee of Gazprom JSC, and Peter Loescher, President and CEO Siemens AG have signed a Memorandum of Understanding during the St. Petersburg International Economic Forum. The parties intend to cooperate in the area of liquefied natural gas (LNG) technology development and will carry out a number of joint development programs.

The joint development programs include the construction of a demo plant for LNG production based on technology of liquefaction “Liquefin” as well as a study to evaluate the possibility of joint manufacturing of components for Russian LNG plants. Furthermore the two companies will jointly review the framework of future phases of Shtokman gas field.

"Siemens has always put special attention to cooperations in and with Russia,“ said Peter Löscher, CEO of the Siemens AG. „We are actively developing our business in Russia by making large investments in local facilities along with implementing energy-efficient and environmentally friendly technologies. Gazprom is a long-term partner. Today we have taken another step to strengthen our cooperation in a strategic area.“

Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors. For over 160 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. The company is the world’s largest provider of environmental technologies, generating €23 billion – nearly one-third of its total revenue – from green products and solutions. In fiscal 2009, which ended on September 30, 2009, revenue totaled €76.7 billion and net income €2.5 billion. At the end of September 2009, Siemens had around 405,000 employees worldwide. Further information is available on the Internet at: www.siemens.com.