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Qatar Investment Authority, Glencore demonstrate interest in production projects - source

December 11, 2016, 11:14 UTC+3

The source added, the deal is not related to Russia's agreements with OPEC

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MOSCOW, December 11. /TASS/. The consortium of Qatar Investment Authority and Glencore demonstrates interest in production projects, including the shelf, a source at Rosneft told reporters on Sunday.

"The JV demonstrates interest in upstream (production - TASS) projects, including the shelf, the existing projects and some of the projects due to begin within next couple years," the source said.

The source added, the deal is not related to Russia's agreements with OPEC.

"Qatar is the biggest producer of LNG, and Rosneft plans to become Zohr's shareholder - here would be possible synergies in logistics, trading. We hope those are long-term partners for years and years," the source said.

Earlier, Rosneft's head Igor Sechin said the company planned to have with the consortium a joint venture for projects in production - both inside Russia and outside it.

On December 7,Sechin reported to the Russian President that the privatization deal for the 19.5% stake in the company had been completed. A consortium of Glencore and Qatar’s sovereign fund (with equal shares) became the strategic investor and purchased shares for 10.5 bln euro.

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