Gas supply agreement is signed by Gazprom and LUKOIL

A working meeting between Alexey Miller, Chairman of the Management Committee at Gazprom and Vagit Alekperov, President of LUKOIL took place recently at the St. Petersburg International Economic Forum 2015.

The parties addressed the progress with the general agreement on strategic partnership, placing an emphasis on Gazprom’s gas purchases from LUKOIL in the long run.

At the end of the meeting, the parties inked an addendum to the contract, for gas supply from LUKOIL fields in the Bolshekhetskaya Depression, stipulating gas amounts between 2017 and 2024.

Gas supplies will be determined on the basis of available capacities

Besides, the contract for gas supply from the Northern Caspian Sea fields, developed by LUKOIL was signed for the period until 2024 inclusive. Gas will enter Gazprom’s gas transmission system (GTS) near the town of Budyonnovsk. The volume of annual gas supplies will be determined on the basis of available capacities and operating mode of Gazprom’s GTS, and also depending on the commissioning of the Northern Caspian Sea fields.

Edited from source by Elizabeth Corner

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