By Lucian Kim
Dec. 5 (Bloomberg) -- OAO Gazprom agreed with Abu Dhabi National Energy Co. to jointly build the Bergermeer natural-gas storage site in the Netherlands.
The companies signed a memorandum of understanding today, the Abu Dhabi-based company said in an e-mailed statement. The start of construction is planned for the second quarter of 2009, with commercial operations due to begin four years later.
Gazprom and Taqa, as the Persian Gulf producer is known, plan to complete negotiations “in the following months” and reach a final investment decision by April, according to the statement.
Gazprom, which supplies a quarter of Europe’s gas, is seeking to expand into distribution and sales of the fuel. The state-run company agreed to take a 50 percent stake in OMV AG’s central European gas hub in Baumgarten, Austria, in January.
Taqa, which aims to become a global energy producer, bought BP Plc’s Dutch production and storage facilities last year. The company is the operator of the Bergermeer facility.
To contact the reporter on this story: Lucian Kim in Moscow at lkim3@bloomberg.net
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