LUKoil, Gazprom sign general strategic partnership agreement for 2002-2005

Heads of LUKoil and Gazprom - Vaghit Alekperov and Alexey Miller - signed a general strategic partnership agreement for 2002-2005. The document determines ways of collaboration in the transportation of LUKoil's associated and natural gas through Gazprom's gas transportation system, was written in a joint declaration of the companies. In addition, the agreement provides for the development of mutually beneficial collaboration in the sphere of oil and gas prospecting, production, transportation and refining as well as the sale of oil and gas, oil and gas products, chemicals, petrochemicals and generation of electrical and heat energy. In addition, the agreement provides for joint production of oil, gas and energy equipment, together with other machinery, as well as the development of production facilities and infrastructure as well as ensuring all kinds of scientific, technical, information, ecological, social and personnel support.

The sides agreed on joint implementation of oil and gas projects in the Yamalo-Nenets autonomous area, Nenets autonomous area and in the Caspian region. This includes joint participation in contests and auctions for the right to use land resources in these regions.

The companies stressed their strong intention to develop partnership relations in oil and gas production abroad. They have plans to coordinate their foreign and economic activities, research programs in the oil and gas sphere, environmental projects and other spheres of activities.

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