Rosneft and Conoco negotiating gas condensate supplies to USA

The oil company Rosneft is negotiating with Conoco on the production and supply of gas condensate from the Shtokman field to the USA, Rosneft Vice President Alexey Kuznetsov declared at an international forum devoted to acquisitions in the Russian oil and gas sector. According to him, Rosneft is planning to consider questions of making a Production Sharing Agreement on this field with the government's commission.

Kuznetsov stressed that this field should be explored simultaneously with the Yamal fields explored by Gazprom. However, the main thing before starting exploring the Shtokman field, where some 100bn cubic meters of gas can be produced annually, is to find a target market for this gas. That is why the company is studying the possibility of liquid gas supplies to the USA, Kuznetsov specified.

If there is an agreement on gas supplies with US companies, it is planned to build a gas condensate production facility that will cost from $5bn to $10bn. Investments in the Shtokman project are estimated at some $30bn, the Vice President added.

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