Gazprom Seeks Oil Majors As Partners For Arctic LNG Projects

Friday, Nov 21, 2008

Russian gas giant OAO Gazprom (GAZP.RS) may invite international oil majors such as ConocoPhillips (COP) and Exxon Mobil Corp. ( XOM) to jointly develop gas projects in the countrys Arctic region, the company said Tuesday.

Gazprom is considering production of liquified natural gas, or LNG, in the arctic Yamal region, but hopes to attract partners to share the financial and technical challenges.

U.S. oil majors ConocoPhillips and Exxon Mobil are on a list of possible partners, Gazprom said. Monday, Chief Executive of ConocoPhillips, Jim Mulva, held talks with Gazprom CEO Alexei Miller in Moscow to discuss joint projects, in particular in Alaska.

Royal Dutch Shell PLC (RDSB) said in June it had been shortlisted by Gazprom for one of the potential gas projects in Yamal.