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Rosneft, Japan's SODECO sign agreement on contract terms

Rosneft and SODECO, which are partners in the international Sakhalin-1 project, already have successful experience of efficient cooperation in oil and gas production

ST. PETERSBURG, June 21 (Itar-Tass) - Rosneft and Japan's SODECO at the Economic Forum in St. Petersburg have signed an agreement on liquefied gas sale contract terms.

Cooperation with SODECO guarantees a stable market for Rosneft to supply gas from a plant that is planned to be built together with EXXON MOBIL in the Far East.

Rosneft and SODECO, which are partners in the international Sakhalin-1 project, already have successful experience of efficient cooperation in oil and gas production.

The Russian company at the forum also signed an agreement with General Electric for the company's participation in the implementation of the project to build a liquefied gas plant on Sakhalin.

Rosneft plans to produce about 100 billion cub/m of gas a year by 2020. Entering the liquefied gas market is one of the ways to monetize Rosneft gas reserves.

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