Gazprom and NOC to Set Up Full-Fledged JV
April 17, 2008
Russian gas monopoly Gazprom and the National Oil Corporation of Libya have agreed to set up a joint venture to participate on all levels of the oil and gas industry, reported RIA Novosti.
Alexei Miller, Gazprom’s CEO, said that the new joint venture will seek to participate in upstream, midstream and downstream activities in the oil and gas sector. The joint venture will also reportedly seek to expand operations into other North African markets.
Gazprom has also expressed its interest in establishing liquefied natural gas projects in Libya and constructing a gas pipeline from Libya to Italy, with the help of the National Oil Corporation (NOC).