The proposals are set to be worked out in close cooperation with Rosneft management and rival energy major Gazprom by March 1, Interfax reported on Tuesday.
Gazprom currently holds a monopoly on European gas supplies.
The project was initially proposed by Rosneft chief executive Igor Sechin with the purpose of lowering gas prices across Europe, and generating additional budgetary income.
European countries have been grappling with severe shortages and skyrocketing costs of natural gas for months, with prices spiking to nearly $2,000 per 1,000 m3 of gas in early October.
On Tuesday, the price of December futures on the TTF hub in the Netherlands saw another surge of 7.5% to $1,130 per 1,000 m3, or to €95 per megawatt hour (MWh) in household terms.
Rising energy prices have been attributed to a variety of factors, including depleted EU reserves, post-pandemic consumption growth and strong demand in Asia for available supplies of LNG.
Gazprom delivers natural gas to Europe using a number of routes.
They include supplies through the pipeline networks of Ukraine and Belarus, as well as the operational Nord Stream pipeline via the Baltic Sea.
With the pipelines running through Ukraine and Belarus reportedly underused, Rosneft hopes to supply additional volumes of gas to Europe if it secures export rights.