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Gazprom, Ukraine's Naftogaz start work to set up Black Sea shelf JV
Gazprom, Ukraine's Naftogaz start work to set up Black Sea shelf JV
Sputnik International
The Russian gas giant Gazprom and Ukrainian national oil and gas company Naftogaz have started setting up a joint venture to develop the Black Sea shelf... 21.06.2011, Sputnik International
2011-06-21T14:35+0000
2011-06-21T14:35+0000
2011-06-21T14:35+0000
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Gazprom, Ukraine's Naftogaz start work to set up Black Sea shelf JV
The Russian gas giant Gazprom and Ukrainian national oil and gas company Naftogaz have started setting up a joint venture to develop the Black Sea shelf, Naftogaz Board Chairman Yevhen Bakulin said on Tuesday.
The Russian gas giant Gazprom and Ukrainian national oil and gas company Naftogaz have started setting up a joint venture to develop the Black Sea shelf, Naftogaz Board Chairman Yevhen Bakulin said on Tuesday.
"Yes, (we have started)," Bakulin told reporters, adding that the companies were still estimating the likely amount of investment in the project and its costs.
He also said that there were some legal contradictions in the joint venture's establishment but they would not be an obstacle.
Gazprom CEO Alexei Miller and Ukraine's Energy Minister Yuriy Boiko signed an agreement in December 2010, to establish two joint ventures to produce coal from Ukrainian deposits and develop the Black Sea shelf.
