Rosneft, Enel Sign Long Term Gas Supply Agreement (Russia)

Rosneft and Enel OGK-5 signed an agreement on the long-term gas supplies to Enel OGK-5 enterprises. The agreement was signed by Rosneft President, Chairman of the Management Board, Igor Sechin and General Director of Enel OGK-5 Enrico Viale.

As part of the agreement Rosneft plans to deliver gas in the period from 2014 to 2025 inclusively to Konakovskaya, Sredneuralskaya and Nevinnomysskaya Power Stations of OGK-5.

Commenting on the agreement signed, Igor Sechin said, “Rosneft holds significant gas reserves and monetizing this gas potential is one of the Company’s strategic goals. Domestic gas market is particularly attractive for us and Rosneft aims to further maximize gas supplies in Russia on a long-term basis. Signing an agreement with Enel OGK-5 to supply gas directly to Russia’s largest generating utilities is the next successful step in expanding Rosneft gas business. It will also ensure guaranteed fuel supplies for power generation on transparent terms.”

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LNG World News Staff, September 25, 2013