Vagit Alekperov, OAO LUKOIL President, and Fulvio Conti, General Director of the Italian company Enel, signed a Memorandum of Understanding and Cooperation in the gas industry today as part of the XVI International Economic Forum in St. Petersburg.

As part of the agreement, the companies will look at opportunities to implement joint projects in gas exploration and production in Russia and abroad, specifically, in the Caspian offshore fields and in Northern Africa.

The Parties will also conduct market research focusing on the sales potential for the liquefied and pipeline gas in the European and Russian markets, and also on the assessment of LUKOIL’s opportunities to supply gas to Enel’s OGK-5 power plants in Russia.
“Cooperation with the international energy group Enel will create an extra synergistic effect for the LUKOIL Gas and Power Engineering Business Sectors which are strategic ones for our Company,” Mr. Alekperov said.