Gazprom, LUKOIL Ink Gas Supply Deal

At the meeting between Alexey Miller, Chairman of the Management Committee and Vagit Alekperov, President of LUKOIL held today issues relating to the General Agreement on Strategic Partnership were addressed placing emphasis on Gazprom’s gas purchases from LUKOIL in the long run.

At the end of the meeting the parties inked an addendum to the contract for gas supply from LUKOIL fields in the Bolshekhetskaya Depression, stipulating gas amounts for 2017 to 2024.

Besides, the Contract for gas supply from the Northern Caspian Sea fields developed by LUKOIL was signed for the period till 2024 inclusive. Gas will enter Gazprom’s gas transmission system (GTS) near the town of Budyonnovsk. The volume of annual gas supplies will be determined on the basis of available capacities and operating mode of Gazprom’s GTS, and also depending on the commissioning of the Northern Caspian Sea fields.