Russian gas pact

Lukoil Overseas Holding Ltd and Syntroleum International Corporation have signed a letter of intent for collaboration in associated gas utilisation from the Lukoil Overseas oilfields in Russia, Kazakhstan and other regions of the world. Lukoil Overseas and a newly formed business unit of SIC, Advanced Gas Technology Partners (AGTP), are to work out an economic assessment for the gathering and processing of associated gas within a number of Lukoil Overseas’ fields. In the future, the parties intend to set up a joint venture arrangement for the construction of gas plants to extract natural gas liquids (NGL) at Verkhnekamye in the Perm Region of the Urals, and in oilfields at Pechora, Komi Republic – both operated by Lukoil-Perm, the operator for Lukoil Overseas’ Russian projects. Scope of joint venture activities would include gathering of associated gas, compression, initial treating, cryogenic NGL extraction of NGL, electric energy production for the Lukoil oilfields, and product marketing. The intended AGTP participation in the joint venture would be supported by SIC’s gas-refining expertise, but would not initially involve deploying Syntroleum’s gas-to-liquids (GTL) technology.

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