Denis Fyodorov, Director General of Gazprom Energoholding, and Alexander Liberov, Chief Financial Officer of Siemens, today signed at the St. Petersburg International Economic Forum 2018 an Agreement of Strategic Cooperation.

The document was signed in the presence of Alexey Miller, Chairman of the Gazprom Management Committee.

The Agreement defines the main directions and principles of cooperation in the field of technological upgrading of Gazprom Energoholding’s generating facilities with the use of innovative electrical equipment made by Siemens. Specifically, one of the priority areas of joint work is the introduction of vacuum generator switches and high-tech components in the construction and upgrading of power units.

Siemens plans to organize the manufacture of that equipment in Russia and bring the local content of production processes to at least 50 per cent by 2020, with an option for a phased increase to 75 per cent by 2022.

Source: Company Press Release