Gazprom, Lukoil sign strategic partnership agreement for next five years

MOSCOW. Dec 20 (Interfax) - PJSC Gazprom and PJSC Lukoil have signed a general agreement on strategic partnership for 2025-2030, with the current agreement expiring in 2024, Gazprom said following a working meeting between Gazprom CEO and management board chairman Alexei Miller and Lukoil management on Friday.

"The companies will continue to develop cooperation in such areas as exploration, production, transportation, processing of gas, gas condensate and oil, sales of hydrocarbons and their processed products, and production of modern engineering products for the needs of the industry. The agreement envisages cooperation in scientific, technical, environmental, social, personnel and other areas of activity, as well as the possibility to implement new, promising projects jointly," according to the press release.

The meeting participants also reviewed the progress of operations to develop the Vaneivisskoye and Layavozhskoye fields in the Nenets Autonomous District (NAD).

In 2020, the companies signed the "Principal Agreement on the Terms and Conditions to Implement the Project to Develop the Vaneivisskoye and Layavozhskoye Fields in the NAD". Layavozhneftegaz LLC, a joint project company, was established in 2021 to implement the project. Gazprom has transferred to Layavozhneftegaz LLC a license to exploit the subsoil area that includes the fields.