Gazprom and Siemens Sign "Strategic Partnership" Deal

Russia's Gazprom and multinational engineering company Siemens have signed an agreement to participate in a strategic partnership, the two companies have said in a joint statement. 

The statement says that the two companies will participate on a range of energy projects, including transportation, underground storage and gas, gas condensate and oil production. The two companies will also cooperate on energy saving projects, environmental protection and innovative development.

The agreement was signed by head of Gazprom's management committee, Alexey Miller and president and CEO of Siemens AG, Peter Loscher. 

"I am sure that, in the near future, by combining efforts and experience, we will continue our active work in many key business areas, including the creation of service infrastructure for Gazprom's power facilities, the implementation of projects in LNG production technologies and power efficiency," Alexey Miller said in the statement.

The agreement is not the first energy partnership between Gazprom and Siemens. In June of last year, the two companies signed a Memorandum of Understanding (MoU) to partner on liquefied natural gas (LNG) projects.