17 June 2004 09:33
Russia`s LUKoil wants Gazprom to sell Uzbek gas
Tashkent, 16 June: Russia's oil major LUKoil wants Russia's natural gas monopoly Gazprom to buy natural gas
produced at the Kandym deposits in Uzbekistan to resell it in Russia or to non-CIS countries, LUKoil's President
Vagit Alekperov told reporters Wednesday [16 June].
LUKoil and Uzbekistan's national oil and gas holding Uzbekneftegaz signed a production sharing agreement (PSA)
to develop the Kandym oil and gas deposits in Uzbekistan earlier Wednesday.
According to the agreement, LUKoil would hold 90 per cent in the consortium, while Uzbekneftegaz would hold 10 per
cent.
According to Alekperov, Gazprom will not take part in the first stage of development of the Kandym deposits.
The first stage of the project, which will cost 180m dollars, is to start within a month and will last three years.
The natural gas output is expected to reach 2.5bn cu.m., Alekperov said.
The second stage, which will require about 600m dollars of investment, is due for completion in 2010, bringing total
gas output to 6.5bn cu.m., he noted.
After 2010, the natural gas output at the deposits will be stable over the following 15 years, at approximately 8bn
cu.m. per year, Alekperov added.
[Prime-TASS news agency] |
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