As part of the 22nd St Petersburg International Economic Forum, Rosneft and the Kurdistan Regional Government of Iraq signed an agreement securing the intention of the parties to make a detailed analysis of potential gas cooperation options.
The parties ensure stepwise implementation of the arrangements following the investment agreement signed at the 21st St Petersburg International Economic Forum.
Rosneft will focus its analysis on how to participate in the integrated gas business value chain in the region in order to extract maximum efficiency from investments and operations in such areas as exploration and production, transportation and trading with special attention given to partnership and project (third party) financing options.
Under the agreement, the parties will elaborate an integral plan to progress the gas business within the Kurdish region of Iraq. One step in this plan is the conduct of a pre-FEED of Iraqi Kurdistan's gas pipeline construction and operation. This is a key project to the monetisation of the exploration and production opportunities Rosneft has been evaluating since signing a gas cooperation agreement with the Kurdistan Regional Government of Iraq at the 10th Eurasian Economic Forum in Verona on 19 October 2017.
Following the outcomes of the integral development plan in terms of the attractiveness and efficiency of the options, Rosneft will decide on how to participate in the regional gas business.