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Enel and LUKoil have signed an agreement for upstream and midstream cooperation

Oilfield Technology,

LUKoil and Enel have signed an MOU to cooperate together

Through the memorandum, Enel and LUKoil intend to further strengthen their relationship by focusing on joint opportunities in the natural gas value chain.

The two companies parties investigate possible joint upstream gas projects in the Russian Federation and abroad, with particular focus in the Caspian Sea and North African basin. The parties also decided to coordinate efforts on the analysis of the regulatory framework of the Russian natural gas industry.

Also, Enel and LUKoil will share their respective knowledge by undertaking marketing studies on LNG and pipeline gas supply and demand trends in Europe and Russia. The parties will also review the possible supply of Enel OGK-5 gas-fired power plants by LUKoil.

“Enel is very pleased with the chance to co-operate with such a relevant player on the Russian gas and oil market. This agreement will be beneficial to both parties for exploring new joint opportunities in the natural gas value chain, from upstream to gas supply” said Fulvio Conti, CEO and General Manager of Enel.

Adapted form press release by Peter Farrell.

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