Russia and Bahrain signed a number of agreements during the working visit of Bahrain’s King Hamad bin Isa Al Khalifa to Russia, including a memorandum of understanding on cooperation in the field of LNG.
The memorandum of understanding has been signed between Gazprom and Bahrain’s National Oil and Gas Authority, with Reuters, citing meeting documents, reporting that Russia is looking to export LNG volumes to Bahrain.
According to a statement by the Russian president’s office, the two countries also signed a memorandum of understanding to strengthen partnership in geophysical research in oil and natural gas exploration and production.
According to the documents seen by Reuters, the five-year geological exploration programme offshore Bahrain is set to start from 2017.
In December last year, Bahrain’s government struck a deal with the Teekay-led consortium to build the LNG terminal in the country.
The project will be owned and operated through Bahrain LNG, a joint venture formed by Nogaholding and Teekay with a 30 percent stake and Samsung and GIC with a 20 percent stake each.
LNG World News Staff