Gulf Oil and Gas accountACCOUNT

Rosneft & Beijing Gas Set Up a Joint Venture to Develop a Network of CNG Filling Stations

Source: www.gulfoilandgas.com 11/29/2018, Location: Asia

An agreement to set up a joint venture for construction and operation of a network of CNG stations in Russia on the basis of Vankor UTT was signed by Rosneft and Beijing Gas Group Company Limited (hereinafter, Beijing Gas) during the first Russian-Chinese Energy Business Forum. Under the agreement, Beijing Gas will have a 45% stake.

Pursuant to the document, the parties will build about 170 CNG stations in Russia, and consider the options of using LNG as a motor fuel. The document will enable the development of strategic cooperation between the partners in the use of natural gas as an ecological fuel.

Development of the CNG station network in Russia is among key priorities of Rosneft's Retail Business: the use of CNG as a motor fuel will increase the effectiveness of vehicles operation due to transportation cost reduction, and reduce a negative environmental impact of motor vehicles. It is consistent with Rosneft-2022 Strategy and with the Instruction of the RF President concerning the need to develop a market for natural gas a motor fuel.

Mergers and Acquisitions News in Russia >>

Mexico >>  2/21/2019 - Nu-Oil & Gas has announced that Marginal Field Development Company ('MFDevCo'), the Company's 50%-owned joint venture, has entered into an agreement w...
United Kingdom >>  2/20/2019 - Private equity firm HitecVision is seeking to sell its British North Sea oil and gas production unit Verus Petroleum, which last year completed a stri...

United Arab Emirates >>  2/19/2019 - Rockwell Automation, the world’s largest company dedicated to industrial automation and information, and Schlumberger, the world's leading provider of...
France >>  2/18/2019 - Total has acquired Synova, a French leader in manufacturing high-performance recycled polypropylene for the automotive sector. ...

Netherlands Antilles >>  2/15/2019 - Shell has agreed to acquire 100% of sonnen, a leader in smart energy storage systems and innovative energy services for households. This follows an in...
United Kingdom >>  2/15/2019 - Rowan Companies plc (RDC) has received clearance from the United Kingdom's Competition and Markets Authority for its pending combination with Ensco pl...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Russia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.