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    Gazprom, Lukoil Mull JV for N Russia


The two companies are planning the joint development of two fields in northern Russia.

by: William Powell

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Gazprom, Lukoil Mull JV for N Russia

The CEOs of Russian state-owned Gazprom and of Russia's biggest private oil company, Lukoil, have met to discuss co-operation, including the joint development project for the Vaneyvisskoye and Layavozhskoye fields in the Nenets Autonomous Area. Preparations are underway for the establishment of a joint venture, Gazprom said December 13, after the meeting.

Alexei Miller of Gazprom and Vagit Alekperov of Lukoil reviewed the long-term prospects of collaboration between the companies for the purposes of gas supply and processing at Gazprom’s Sosnogorsk gas processing plant, which since October 2015 has received associated petroleum gas from Lukoil. Previously the gas had been used by industry in the north of Russia. The two companies are bound by a 2014–2024 general agreement on strategic partnership, part of which obliges Lukoil to deliver gas to Gazprom's pipeline network. 

In May 2018, Gazprom and Lukoil agreed to develop jointly the Vaneyvisskoe and Layavozhskoe fields in the Nenets autonomous area, in a 50-50 joint venture.