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Friday, September 26, 2008

Gazprom to lead Russian oil consortium, CEO says

RBC, 26.09.2008, Orenburg 16:44:05. – The Russian oil consortium to be established for further work within a joint venture between Petroleos de Venezuela S.A. (PDVSA) and Gazprom, Rosneft, TNK-BP, and Surgutneftegas will apparently be led by Gazprom, the Mayak radio station reported Russian energy holding's CEO Alexei Miller as saying after the signing of a memorandum of understanding between the Russian Energy Ministry and the Venezuelan Energy and Petroleum Ministry in Orenburg today. Miller noted that Gazprom had already operated in Venezuela for several years and had positive experience working there. The company has already developed a general plan for the development of the gas industry in Venezuela, Miller asserted, so it operates in the country "on a scientific basis." Rather than controlling the Russian-Venezuelan consortium, he stressed, Gazprom would become its operator. Miller added that the headquarters of the international consortium would be set up in the Venezuelan capital of Caracas.

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