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Friday, April 28, 2006

Russia, Germany sign major gas deal

ISN SECURITY WATCH (Friday, 28 April 2006: 10.35 CET) – Russian President Vladimir Putin and German Chancellor Angela Merkel concluded key talks in Siberia by signing a key gas deal that gives a German company a role in the development of a lucrative Russian gas field.

The Thursday agreement signed by Putin and Merkel allows Germany's BASF-Wintershall company to work alongside Russian state-run gas giant Gazprom to develop a large gas field in Western Siberia, the Yuzhno-Russkoye gas field, which will feed a new gas pipeline delivering Russian gas to Germany under the Baltic Sea.

Both sides praised what they called a smooth summit and welcomed future energy cooperation.

"There are obvious prospects for the deepening of cooperation in the high-technology and science intensive sectors determining the future of world progress - I mean aviation and space exploration," Russia's Itar-Tass news agency quoted Putin as saying.

Putin said a vital task was "the transition from the traditional, predominately trade forms of cooperation to large-scale scientific-industrial cooperation between Russia and Germany" - the foundations for which had already been laid, he said.

Merkel also won a guarantee from Putin that Russia would honor its energy export obligations to Germany and the EU, despite earlier warnings that it was considering focusing more on Eastern markets.
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