Frontera and Naftogaz sign MOU for upstream and LNG cooperation

Frontera Resources Corp. (AIM: FRR) has signed a strategic memorandum of understanding (MOU) with Ukraine’s national energy company Naftogaz.

The MOU serves to establish a joint effort to work together on upstream exploration and production projects in Ukraine, and to study the possibility of bringing liquefied natural gas (LNG) to Ukraine from Frontera’s ongoing work in Georgia where it has identified combined prospective natural gas resources of as much as 12.9 trillion cubic feet (365 billion cubic meters) of gas-in-place, with as much as 9.4 trillion cubic feet (266 billion cubic meters) of recoverable prospective natural gas resources at the Mtsare Khevi gas complex and Taribani Field complex. 

These natural gas resources were announced by Frontera earlier this year and confirmed in reports by the US-based independent consulting firm of Netherland, Sewell & Associates.

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