On September 8, 2004 in Moscow, Alexey Miller, Chairman of Executive Board of OAO Gazprom, Sergey Bogdanchikov, President of OAO NK Rosneft and Helge Lund, President and CEO of Statoil ASA (Norway) signed a Memorandum of Understanding.
The Memorandum provides for conducting 6 months joint studies of the following projects:
- first phase of the Shtokmanovskoye gas condensate field (SGCF) including LNG plant construction and Statoil ASA participation in this project;
- the Russian Partyâs participation in the Statoil ASA operated Snøhvit LNG project offshore Norwegian Barents sea;
- the Russian Partyâs participation in the use of Statoil ASA regasification capacities in North America
Shtokmanovskoye is located in the Russian part of the Barents Sea, 600 kilometres north of Murmansk. (Illustration: Liv Ims)
To control the course of studies a trilateral Management Committee and a Working Group will be established.
âThe Memorandum signed today opens a new page in our cooperation with Statoil. We have giant gas reserves offshore Barents Sea and Statoil has LNG production and transportation experience and market access to the North American market, which is strategically important for us. By joining forces for studying these promising projects we will be able to achieve good resultsâ - Alexey Miller said after signing the Memorandum.
âThe Arctic offshore has been and remains a region of strategic interests for Rosneft. We consider this beginning of close cooperation with Statoil in the Barents Sea as an important step forward for a commercial development of the giant oil and gas reserves in this regionâ â Sergey Bogdanchikov pointed out.
âStatoil sees the Barents Region as a natural growth area for Statoil. We look forward to a fruitful long-term cooperation with Gazprom and Rosneft, initially focusing on sharing with them our experience from the development of the Snøhvit LNG project and our ability to market this gas in North Americaâ - Helge Lund underlined.
Press Service
OAO Gazprom tel. (095) 719-34-41, fax (095) 718-63-84, e-mail: pr@gazprom.ru
OAO NK Rosneft, tel. (095) 777-47-88, fax. (095) 231-40-65, inform@rosneft.ru
Statoil ASA, Kai Nielsen, tel. +47 97041332, dkani@statoil.com