Lukoil, Gazprom To Develop Karachaganak Jointly

Kazakh?s Karachaganak gas condensate project participants have agreed with Gazprom to sign a long-term partnership memorandum, vice president of oil company Lukoil Yury Storozhev said at the second international Russian Gas 2004 forum in Moscow.

Under the memorandum it is planned to supply gas from Karachaganak to markets in Europe and Russia at market prices, in volumes up to 10 billion cubic meters per year.

At the moment the main buyers of gas from the field is the Russian- Kazakh company KazRosGaz, set up equally by KazMunaiGas and Gazprom.