Libya will pay Gazprom contracts “Naftogaz Ukraine”

Libya has offered Russia’s gas company Gazprom to develop three of the four oil and gas fields, created by “Naftogaz Ukraine”.

In talks with Libyan leader Muammar Gaddafi July 9, 2008 Gazprom CEO Alexei Miller offered to buy all future volumes of oil, gas and liquefied natural gas (LNG), destined for Libya’s exports. Thus, Ukraine may completely lose the possibility of producing oil and gas in this country.

Under the terms of the contract between Naftogaz Ukraine “and” National Oil Corporation of Libya “, concluded in October 2004, the Ukrainian company was to invest in exploration 57,5 million dollars. In this case “Naftogaz” was able to develop the deposits, estimated reserves amount to about 110 million tons of oil and 30 billion cubic meters of gas.

However, Naftogaz since 2004 has managed to invest in the work of only 16 million dollars, while since 2008 the development of the deposit was completely stopped.

interest in Gazprom for oil is not accidental - owns natural-gas monopoly Gazprom-Neft. 75.7 per cent of its shares were bought by Gazprom in 2005 by Millhouse Capital, which is owned by Roman Abramovich.

9 July 2008 | company, contract, development, gas, gazprom, libya, million, naftogaz ukrainy, oil

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