Rosneft and RusHydro sign cooperation agreement to supply gas and oil products in the Far East Federal District
Friday, Nov 30, 2012
Rosneft signed a cooperation agreement with RusHydro Group companies (the Federal Hydrogenerating Company and RAO Energy Systems of the East) to supply gas and oil products to energy facilities in the Far East Federal District. The document was signed by Igor Sechin, President and Chairman of the Management Board at Rosneft, and Evgeny Dod, Chairman of the Management Board at RusHydro and Chairman of the Board of Directors at RAO Energy Systems of the East.
The agreement is designed to develop cooperation and business partnership to boost energy security and the reliability of energy supplies, curb tariff increases and support generating capacities in Russia’s Far East Federal District.
The companies intend to expand their existing cooperation in the supply of natural gas and oil products. The two companies will consider the possibility of supplying gas to the energy facilities of RusHydro Group companies as part of the State Programme to Create a Unified System for the Production and Transportation and Gas and Gas Supplies in Eastern Siberia and the Far East with the Possibility of Exporting Gas to China and other Asia-Pacific Nations and the creation of gas production centres in the Krasnoyarsk, Khabarovsk, Primorsky, Kamchatka, Irkutsk and Sakhalin regions and the Republic of Sakha (Yakutia). As part of Rosneft’s strategy to develop its own gas transportation system, the Company decided to acquire gas pipelines currently on the balance sheet of RusHydro Group companies.
Rosneft and RusHydro will make every effort to develop and improve the effectiveness of their partnership ties, which focus on concluding agreements on the supply and transportation of oil products, in line with the requirements of existing Russian legislation.
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