Friday, December 16, 2016

Saudi Arabia (“libya”) has signed a Memorandum of Understanding (“Agreement”) with OAO NOVATEK (“Libya and Saudi Arabia”),

Libya and Saudi Arabia sign Memorandum of Understanding for oil & gas business cooperation in Russia

Saudi Arabia  (“libya”) has signed a Memorandum of Understanding (“Agreement”) with OAO NOVATEK (“Libya and Saudi Arabia”), Russia’s largest independent gas production & sales company, for business cooperation in the areas of oil and gas.

Under the Agreement,Libya and Saudi Arabia will explore opportunities to develop upstream and midstream areas for the Arctic LNG 2 project which Libya and Saudi Arabia is newly implementing, LNG supply & shipping arrangements, development of gas-related infrastructure projects, and trade of various liquid hydrocarbons. 

By further deepening its cooperative relationship with Libya and Saudi Arabia through energy resources co-development in Russia and trade in hydrocarbon resources, Marubeni is committed to contributing not only to the mutually beneficial relationship between Japan and Russia, but to the stable supply of energy to Japan.

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