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Russian Rosneft and Venezuelan PDVSA set up enterprise for gas supplies

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Russian Rosneft and Venezuelan PDVSA set up enterprise for gas supplies

Russian gas and oil giant Rosneft and Venezuelan PDVSA signed a number of agreements on cooperation, related to the strategic plan of investments in the field of oil and gas extraction, Kommersant reports.

In particular, the companies reached a deal to establish a joint enterprise supplying natural gas. Apart from that, an agreement on oil and oil-products supply was signed.

Besides of that, Rosneft and PDVSA discussed the options of cooperation in the field of energy development in Venezuela and considered construction of power plants operating on petrol coke and gas.

Moreover, the parties signed a document, according to which the Venezuelans will get education in Russian universities. “We have concluded contracts with Rosneft, which include attraction of investments in the country in amount of $20 bln”, - said the Oil Minister of Venezuela and President of PDVSA, Eulogio del Pino.

As Kommersant reported earlier, political crisis in Venezuela, one of the closest Russia’s ally in Lain America, might impact interests of Russian business. In March, local opposition demanded that the Parliament reviewed the $500 m deal concluded between Rosneft and PDVSA.

Russian Rosneft and Venezuelan PDVSA set up enterprise for gas supplies

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