Gazprom and LUKOIL Discuss Future Cooperation

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Vagit Alekperov, President of LUKOIL, took place in Moscow.

In the course of the meeting, the parties discussed their current and future cooperation in the gas sector. In particular, attention was paid to the ongoing preparations for setting up a joint venture to develop the Vaneyvisskoye and Layavozhskoye fields.

Background
Gazprom and LUKOIL are bound by the 2014–2024 General Agreement on Strategic Partnership, pursuant to which, among other things, LUKOIL supplies gas into Gazprom’s gas transmission system.

In 2015, Gazprom’s Sosnogorsk GPP started to receive associated petroleum gas from the northern group of fields developed by LUKOIL-Komi.

In 2018, Gazprom and LUKOIL signed the Agreement stating the intention of the parties to jointly develop the Vaneyvisskoye and Layavozhskoye fields in the Nenets Autonomous Area. The document outlines the general terms and procedure for setting up a joint venture on a parity basis to carry out the project.