Rosneft and GE ink cooperation deal

Russia’s Rosneft and US-based General Electric (GE) signed a long-term cooperation program, inlcluding LNG production.

The document involves construction plan of joint ventures for production of marine, oil and gas, and electrical equipment to ensure timely construction and commissioning of production facilities, Rosneft said in a statement on Monday.

Also, the program envisages further cooperation in the area of LNG production. GE and Rosneft’s subsidiary NGK Itera will continue to work on the project of founding Russia’s first small-scale LNG plant based at Bratskekogaz company, Rosneft said.

To remind, Rosneft’s unit Itera and GE signed in June 2015 an agreement of intent regarding natural gas processing cooperation.

The two companies agreed to assess a potential cooperation for gas processing using GE’s technologies for small-tonnage production of liquefied natural gas.