Russian gas giant Gazprom and Danish energy company Dong Energy are planning to jointly invest in power plants in northwest Europe.

In a statement yesterday, Gazprom said that he two companies “agreed on a plan of action with regard to further cooperation in Northwestern Europe concerning existing gas fired power plants and the construction of a new, modern steam-gas plant.”

Dong and Gazprom signed a memorandum of understanding last year to work on potential European projects and at the weekend representatives from the two companies met to discuss how to further this pact.

Gazprom chief executive Alexei Miller said power generation was at the core of the company’s European business activity. “Gazprom shows a particular interest in partnering with European energy majors on the existing power generation projects and in constructing new gas-fired power plants as well,” he said in the statement.

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