Gazprom, Shell sign deal to develop hydrocarbons in ArcticApril 9, 2013 - 14:11 AMT PanARMENIAN.Net - Russia’s gas monopoly Gazprom and the Anglo-Dutch energy giant Royal Dutch Shell have signed a tentative deal to develop hydrocarbons in the Russian Arctic, RIA Novosti reported. The deal was signed on Monday evening by Gazprom CEO Alexei Miller and Jorma Ollila, chairman of the Royal Dutch Shell board of directors, following negotiations between Russian President Vladimir Putin and Dutch Prime Minister Mark Rutte in Amsterdam. The memorandum anticipates the joint prospecting and development of hydrocarbon deposits in the Russian Arctic. The Gazprom head said at the signing ceremony that the deal was a framework agreement that envisaged cooperation in the Arctic as a whole, and that it did not refer to any specific hydrocarbon deposits. Under existing rules, only Russian companies with over 50-percent state ownership and no less than five years’ experience working in marine exploration are allowed to develop the Russian continental shelf. Only Rosneft and Gazprom currently meet these requirements and can involve other companies in the shelf development through joint ventures. Royal Dutch Shell also signed a memorandum with Gazprom Neft, Gazprom’s oil arm, on cooperation in exploring and producing shale oil in Russia. Shale oil hydrocarbons are located in West Siberia in the Bazhenov, Abalak and Frolovskaya rock formations. The deposits lie at a depth of more than 2 km (1.2 miles) and are spread over more than 1 million square km, according to data posted on the Gazprom Neft website. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Government reveals details from Pashinyan’s meeting in border village Prime Minister Nikol Pashinyan has met with a group of residents of a border village in Armenia’s northern Tavush province Narek Manasyan wins European Boxing Championships silver for Armenia Armenia’s Narek Manasyan (92kg) won Armenia’s second silver medal at the European Boxing Championships 2024 on April 28. Blinken urges Azerbaijan to continue negotiations with Armenia Secretary of State Antony J. Blinken has urged Azerbaijani President Ilham Aliyev to continue negotiations with Armenia. Pashinyan, Blinken talk Armenia-U.S. ties over the phone Prime Minister Nikol Pashinyan had a phone conversation with US Secretary of State Antony Blinken on April 28, Pashinyan’s office reports. |