Alexey Miller, Chairman of the OAO Gazprom Management Committee and Antonio Brufau Niub?, Chairman and Chief Executive Officer of Repsol YPF inked a Memorandum of Understanding for Cooperation within Oil and Gas Projects.

Pursuant to the MOU, the parties will study potential joint businesses in Europe, Latin America and Africa as well as within LNG projects using resources from the Russian Federation, including within the Baltic LNG project.

To successfully implement the MOU, the parties will set up a Coordinating Committee.

Reference:

Repsol YPF is an integrated transnational company being among the world’s top ten prominent private petroleum businesses. The company operates in more than 30 countries of the world. Repsol’s major business lines are oil and natural gas exploration and production, refining and marketing, petrochemicals, power generation, liquefied petroleum gas.

Repsol annually produces and sells some 55 million tons of oil and 32 billion cubic meters of gas. The company’s oil and gas reserves exceed 680 million tons of oil equivalent and are largely concentrated in Latin America and North Africa.

Repsol is a leader in the energy markets of Argentine and Spain, and sells products via its marketing network in Europe and Latin America (8.7 million customers).