Support The Moscow Times!

Rosneft and EuroChem Sign 6 Year Gas Agreement

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.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

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 you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more