LUKoil and Gazprom make deal

LUKoil and Gazprom have signed an agreement on gas supplies from the Nakhodka field in the Yamalo-Nenets Autonomous Area as of 2005, LUKoil reported. LUKoil will sell up to 750m cubic meters of gas to Gazprom in the fourth quarter of 2005 and up to 8bn cubic meters in 2006. Gazprom CEO Alexey Miller and LUKoil President Vaghit Alekperov have signed a corresponding agreement today.

The agreement stipulates that Gazprom will buy gas at $22.5 per 1,000 cubic meters at least, not taking into account the value-added tax. The agreement came into force when it was signed and expires on December 31, 2006.

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