State-owned oil giant Rosneft and EuroChem, Russia's largest fertilizer producer, on Friday signed a six-year gas supply agreement at the St. Petersburg International Economic Forum, a EuroChem press release said.
The document signed by EuroChem CEO Dmitry Strezhnev and Igor Sechin, the CEO of Rosneft and one of President Vladimir Putin's closest associates, promises deliveries of 9.83 billion cubic meters of gas by the end of 2019.
Diversification of gas supplies is an important part of EuroChem's strategy for preserving its position on the competitive nitrogen market, Strezhnev said. The deal will allow EuroChem, which produces nitrogen as well as phosphate fertilizer, to satisfy 64% of the gas needs of a factory in the Tula region, about 200 kilometers south of Moscow, he added.
Sechin described the deal as "evidence that Rosneft and EuroChem see great potential for expanding areas of mutually beneficial partnership," which ultimately should "go beyond gas sales," the press release said.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
