Gazprom and Lukoil in gas supply agreement
- Business & Finance
President of Lukoil Vagit Alekperov and Gazprom’s Chairman Alexey Miller, have signed an agreement on purchase of gas produced by Lukoil.
In a meeting at the Saint Petersburg International Economic Forum, the two executives discussed the implementation of the 2014–2024 General Agreement on strategic partnership.
Besides signing additional agreement on the supply of gas from Lukoil fields in Bolshekhetskaya Depression for 2017-2024, the companies have signed an agreement on the supply of gas up to 2024 from Northern Caspian fields developed by Lukoil.
Gas from Northern Caspian fields will flow into the gas transportation system of Gazprom near the town of Budennovsk. The companies said that the volume of annual gas supplies will be determined by the technical features and modes of operation of the gas transportation system of Gazprom, as well as depending on the commissioning of the Northern Caspian fields.