Rosneft and GE co-operate for LNG production

Itera, a Rosneft subsidiary, and General Electric have signed an agreement of intent regarding natural gas processing co-operation at the St. Petersburg International Economic Forum.

GE technology for low-tonnage LNG production

The two parties agreed to evaluate opportunities for potential co-operation on natural gas processing using GE technology for low-tonnage LNG production.

In particular, the agreement covers analysis of opportunities to co-operate on establishing LNG production at Bratskecogas assets, as well as potential joint work on deploying GE technology and equipment to boost the company’s efficiency and production capacity.

The development of infrastructure, aimed at LNG production, will open additional monetisation channels for Rosneft’s significant gas reserves and will enable increased efficiency for Itera Oil and Gas company consolidated assets.

Rosneft has tripled gas production

After signing, Chairman of Rosneft Management Board, Igor Sechin, said: “Gas business is one of the priority dimensions of the company’s business; Rosneft has tripled its gas production in the last two years and we are glad to develop gas processing with such technologically advanced partner as GE”.

Also commenting on the agreement signing, Ron Pollett, President and CEO of GE Russia/CIS, noted: “GE’s high-tech solutions create opportunities for enhancing productivity and contributing to our partners’ business development. Since 2004, GE has designed, manufactured, delivered, and launched more than 140 cryogenic modules globally, including 11 units for the production of LNG and 130 to liquefy carbon dioxide gas. We are confident that our co-operation with Itera on gas monetisation will contribute to the modernisation of the Russian oil and gas industry.”

Adapted from press release by Callum O'Reilly

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/22062015/rosneft-and-ge-cooperate-for-lng-production/