Siemens is the majority shareholder in the JV. The combined investment is approximately EUR60m. The first compressors, which are intended primarily for Gazprom, are scheduled for delivery as early as 2011.
Tom Blades, CEO of oil and gas division at Siemens Energy, said: “Together with our partner we will build up state-of-the-art manufacturing for our latest compressor technology in Perm. With our combined experience within the oil and gas sector, we will offer our customers product solutions providing highest reliability and efficiency for gas transportation needs, made in Russia.
“With our compressors we are targeting a mid-term market share of approximately 30% in Russia. The agreement also encompasses the transfer of latest compressor technology.”
According to Siemens, the volume of the Russian pipeline compressor market in 2009 was approximately EUR200m. A number of projects are currently planned or under construction. These include the Nord Stream pipeline.
