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Rosneft, RUSAL, EuroSibEnergo and Russian Machines Sign Set of Contracts

Source: www.gulfoilandgas.com 5/23/2014, Location: Asia

Within the St. Petersburg International Economic Forum Rosneft Group, RUSAL, EuroSibEnergo PLC and Russian Machines signed a set of contracts for gas and oil products supplies. The documents were signed - on behalf of the Rosneft Group by Rosneft President, Chairman of the Management Board Igor Sechin and on behalf of RUSAL, EuroSibEnergo PLC and Russian Machines by Oleg Deripaska. In particular the contracts envisages Rosneft supplies to of gas and coke to Rusal subsidiaries.

The agreements for gas are designed for a period till the 2029 and presume supplies of over 20 bcm of gas from Rosneft during this period. The importance of these agreements cannot be underestimated within the ambit of the strategic goal of Rosneft - increase to a 20% share of the Russian gas market.

The reached agreements – are a sign of the strategic status of the relations between the two companies. For Rosneft this cooperation create a guarantee outlet for gas and coke.

Commenting on the signing Igor Sechin said: “The signed agreements are an important element of the realization of the gas strategy of Rosneft. On the other hand, these contracts are an evidence of the commitment of both companies to develop long-term partnership”.

After the signing Oleg Deripaska said: “We are pleased to start a long-term cooperation in the power sector with the biggest Russian oil and gas company and I am sure that our partnership will evolve dynamically”.

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