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Oil & Gas Journal

Uchenna Izundu
International Editor

LONDON, June 20 -- OAO Gazprom opened an office in Algeria, aimed at to developing opportunities in Africa and in particular with Sonatrach, the nation's state owned oil company.

Under a memorandum of understanding signed in 2006, both parties are committed to jointly developing oil and gas projects in Algeria, Russia, and third countries, including probable swaps of assets and operations, with exchanges of LNG and pipeline gas, for efficiency.

"Possibilities for cooperation in the area of joint acquisition of energy assets in the territory of third countries, engineering and construction of facilities of pipeline infrastructure were considered as well," Gazprom said.

This is the first time that Gazprom has established a representative in Africa. Deputy Chairman of the Management Committee of OAO Gazprom Alexander Medvedev added that cooperation would cover all parts of the oil and gas chain across Africa, including exploration and production, processing, sales, environmental protection, and energy efficiency. He said the office would help Gazprom raise its profile in becoming a global energy company.

Contact Uchenna Izundu at uchennai@pennwell.com.