MOSCOW, May 19 (RIA Novosti) - Gazprom and Germany's
Verbundnetz Gas (VNG) plan to establish a joint venture to
build a 350-million-euro gas storage facility in eastern
Germany, the Russian energy giant said on Tuesday.
The agreement was signed between Gazprom's deputy CEO
Alexander Medvedev and Verbundnetz Gas CEO Klaus-Ewald Holst in
Berlin on Tuesday, the company said in a statement.
The storage facility will be built in the town of
Bernburg, in the federal state of Saxony-Anhalt. Work is due to
begin on the first underground storage space in 2009. When it
is completed in 2022, the facility will have an active storage
capacity of 510 million cubic meters.