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GAZPROM

May 19, 2005

On working meeting between Alexey Miller and Helge Lund

On May 18, Gazprom’s Headquarters hosted a working meeting between Alexey Miller, Gazprom’s Management Committee Chairman and Helge Lund, Statoil’s President and CEO.

The meeting explored the implementation of a joint Memorandum of understanding, addressing the Shtokman gas condensate field development, gas liquefaction plant construction and LNG deliveries to the USA.

Special emphasis was placed on cooperation in liquefied natural gas production and supply to the USA technologies.

Alexey Miller and Helge Lund scrutinized Gazprom’s potential involvement in the Snohvit LNG project and possible use of Statoil-owned regasification capacities in North America.

Ultimately, the parties emphasized that Statoil’s extensive experience and advanced technologies of offshore oil & gas extraction were a guarantee of the long-term and mutually beneficial cooperation between the two firms.

Reference:

A 71.3%-state-owned vertically-integrated and multi-profile petroleum firm, Statoil is running business through 29 locations worldwide. The company counts on vast experience of operations in the Norwegian offshore and is the world’s third crude oil seller. Statoil is a major natural gas supplier to Europe.

Situated in the Norwegian Barents Sea, the Snohvit (White-Snow) field will be developed by remote-controlled underwater vehicles and equipment.

The field resources will be channeled to the Hammerfest LNG terminal (Norway) via a 143-km-long underwater pipeline. One train of the first European natural gas liquefaction plant will have an annual capacity of 5.7 bcm. Statoil started technically developing the Snohvit field in 2002 and LNG production & supply to the USA and Europe is due 2006.

Statoil is serving as operator of the Cove Point regasification terminal (2.4 bcm per annum), which is one of the 4 existing regasification terminals in the USA. The terminal is based in Maryland, US West Coast, between Washington DC and New York City. Said area is being regarded upon as the most promising US gas market. Statoil has entered into an agreement to modernize the terminal with the view of boosting its throughput. Upon the upgrading completion due 2008, Statoil will exercise control over the 10 bcm/y regasification, storage and transmission Cove Point terminal.

On 8 September 2004, Gazprom, Rosneft and Statoil sealed in Moscow a Memorandum of understanding.

DIVISION OF RELATIONS WITH MASS MEDIA

 

 

 

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