Gazprom and LUKoil set up taskforce to develop cooperation strategy

Heads of Gazprom and LUKoil, the gas and oil giants, Alexey Miller andVagit Alekperov made a decision at today's meeting in Moscow about creatinga task force, which will be assigned with preparing a draft of theagreement of strategic partnership between Gazprom and LUKoil in 2002-2005in order to cooperate in the development of oil and gas deposits in theYamal-Nenets and the Nenets Autonomous regions of Russia. Additionally, theoil and gas companies are planning to cooperate in condensing natural gasand its transportation. As the gas holding's CEO Alexey Miller reportedafter the meeting, the parties reached a general understanding of theircollaboration in the reconnaissance, production, transportation and sale ofgas, including the issue of the development of oil and gas deposits on theCaspian Sea shelf..

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&to=http://www.gazprom.ru/eng/default.htm' target=_blank>GAZPROM

&to=http://www.lukoil.com' target=_blank>LUKoil