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Russia’s Rosneft, EuroChem ink 6-year deal for 9.8 billion cu. m gas supplies

May 23, 2014, 15:58 UTC+3 ST. PETERSBURG
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ST. PETERSBURG, May 23. /ITAR-TASS/. Russian oil major Rosneft has signed on Friday a 6-year contract to supply 9.82 billion cubic meters of gas to fertilizer maker EuroChem.

EuroChem needs natural gas to produce ammonia, the main component of nitrogen fertilizers. CEO Dmitry Strezhnev said following the signing of the agreement at the St. Petersburg International Economic Forum.

“EuroChem’s strategy implies significant production development, and the diversification of gas supply channels to the company’s facilities is important for us. This will allow us to conserve competitive advantages of Russian nitrogen products on the global market, while Rosneft will obtain a reliable and scrupulous partner,” Strezhnev said.

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