6/2/2017
BP, Rosneft Signes Cooperation Agreement to Supply Natural Gas to Europe
"According to the MoU, Rosneft and BP’s wholly-owned subsidiary BP Gas Marketing Limited will enter into a long-term sales and purchase agreement for the supply of natural gas produced by Rosneft in order to ensure delivery of additional Russian gas supplies to European markets starting from 2019"...
Russia's Rosneft and UK-based BP reportedly signed a cooperation agreement at the St. Petersburg International Economic Forum (SPIEF) to begin joint cooperation on gas deliveries to Europe in 2019. The two firms agreed to pursue integrated gas cooperation and jointly implement exploration and production, liquefied natural gas (LNG) production, supply and marketing work in Russia and abroad. Rosneft and BP also affirmed mutual interest in European gas market cooperation. Rosneft's statement about the agreement was as follows; "Rosneft and BP have signed today an agreement on strategic cooperation in gas and a Memorandum of Understanding (MoU) in respect to the sale and purchase of natural gas in Europe. The two firms agreed to pursue integrated gas cooperation and jointly implement exploration and production, liquefied natural gas (LNG) production, supply and marketing work in Russia and abroad. Rosneft and BP also affirmed mutual interest in European gas market cooperation. According to the MoU, Rosneft and BP’s wholly-owned subsidiary BP Gas Marketing Limited will enter into a long-term sales and purchase agreement for the supply of natural gas produced by Rosneft in order to ensure delivery of additional Russian gas supplies to European markets starting from 2019. As known, Russia aim to start additional 15,75 bcm natural gas supply to Europe with the Turk Stream Pipeline which will deliver the gas though Turkey to Europe. TEBA:1818/ May 29, 2017
Annual Report
