Astana talks may continue on Wednesday, Syrian opposition saysWorld January 24, 9:14
Syria peace talks in Astana enter second dayWorld January 24, 8:52
China deploys intercontinental missiles near Russian border — mediaWorld January 24, 7:58
Russian army engineers defuse almost 500 improvised explosives in eastern AleppoMilitary & Defense January 24, 6:56
Printing house in Kiev releases map of Ukraine leaving out CrimeaWorld January 24, 4:34
Title for Episode VIII of world’s famous saga ‘Star Wars’ revealedSociety & Culture January 23, 21:19
Russia’s chief negotiator: Astana format gives hope for new level in negotiating processRussian Politics & Diplomacy January 23, 20:52
Astana talks focusing on mechanism of Syria ceasefire observance — oppositionWorld January 23, 20:23
Russia and Turkey hit Islamic State targets near al-Bab in Aleppo provinceWorld January 23, 20:06
MOSCOW, March 20 (Itar-Tass) – Russia’s gas giant Gazprom and the Czech Republic’s MND Group will invest $128 million into the construction of a underground gas storage facility in Damborice, the Czech Republic’s South Moravian district.
Gazprom Deputy CEO Alexander Medvedev and Chairman of the Board of Directors of MND Group Karel Komarek signed in Prague an agreement on the facility’s construction.
According to Gazprom, the construction of an underground gas storage facility will start in 2014. It is expected to be commissioned in 2016.
The facility will have an effective capacity of 448 million cubic meters of gas and will become one of the largest facilities of this kind in the Czech Republic.
The companies will equally invest into the project.
“Investments into the construction of a gas storage facility are one more step towards raising quality of our cooperation,” Medvedev said. “To increase reliability of gas supplies to Europe is our long-term strategy and expansion of underground gas storage capacities is its important element.”
“Gazprom is our strategic partner. We highly appreciate an opportunity to set up a joint venture with one of the world’s largest energy companies. It is a kind of reward for many years of our professional work in the oil and gas sector. In the future we plan new joint projects not only on the territory of the Czech Republic, but also in Europe and the Russian Federation,” Komarek said.
MND Group, a member of KKCG Group, is the biggest oil and gas producing company in the Czech Republic, which specializes in exploration and operation of oil and gas fields and in construction of underground gas facilities.
Aside from the Czech Republic MND Group has its offices in many countries of Europe, the Middle East, North Africa and the CIS.