Gazprom in alliance with Shell

Gazprom and Shell, one of the largest oil and gas companies in the world, have signed an agreement for a strategical alliance. The agreement focuses on working together on a wide variety of projects that include processing oil reserves, gas condensation,

<BR>Gazprom and Shell, one of the largest oil and gas companies in the world, have signed an agreement for a strategical alliance. The agreement focuses on working together on a wide variety of projects that include processing oil reserves, gas condensation, natural gas, as well as other activities regarding energy in Russia. The two sides agreed to create an equally representative joint venture which will extract approximately 25 million tons of oil and 500 thousand barrels of gas condensation per day. The first joint project will be the processing and extraction of oil, condensed gas liquids, and natural gas from a section of the polar deposits in western Siberia. The extraction of condensed gas liquids and gas is expected to begin here in 2003. In the future Gazprom and Shell are planning to work together on other projects including transporting oil and gas to places such as Turkey, gas and energy projects in Russia, and developing the gas market in Asia.