Russia: Rosneft, Fortum Sign Gas Supply Accord

Rosneft and Fortum have signed a cooperation agreement on additional gas supplies. The document was signed by Rosneft President and Chairman of the Management Board Igor Sechin and Fortum CEO Alexander Chuvayev.

Under the document signed, by December 10, 2013 the parties will agree terms of the gas supply contract, which envisages that Rosneft will deliver 8.3 billion cubic meters of gas through 2019 inclusively: 4.4 billion cubic meters to Tyumen cogeneration plants and 3.9 billion cubic meters to the Tobolsk cogeneration facility.

Commenting on the agreement, Igor Sechin said: “Monetization of Rosneft gas potential is among the strategic priorities of our Company. The agreement with Fortum is yet another step towards the expansion of the company’s natural gas business, which will facilitate the strengthening of the long-term partnership between Rosneft and Fortum.”

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LNG World News Staff, September 26, 2013; Image: Rosneft