18/04/2018

Press release: Gazprom and Saudi Aramco to set up Joint Coordinating Committee

Alexey Miller, Chairman of the Gazprom Management Committee, had working meetings today in Riyadh and Dhahran (Kingdom of Saudi Arabia) with Khalid Abdulaziz Al-Falih, Minister of Energy, Industry and Mineral Resources of Saudi Arabia, and Amin Bin Hassan Nasser, President and CEO of Saudi Arabian Oil Company.

The parties expressed their appreciation for the cooperation prospects in the gas sector.

As part of the visit, an Addendum to the Memorandum of Understanding between Gazprom and Saudi Aramco was signed. The Addendum is aimed at widening the possible areas of cooperation between the companies. Under the document, the parties will set up a Joint Coordinating Committee to implement the Memorandum.

Background

Saudi Arabian Oil Company (Saudi Aramco) is a state-owned company based in the Kingdom of Saudi Arabia and specializing in exploration, production, processing, distribution, transportation and marketing of hydrocarbons.

In October 2017, Gazprom and Saudi Arabian Oil Company signed the Memorandum of Understanding for international cooperation in the gas sector. The document reflects the intention of the parties to explore the avenues for cooperation along the entire value chain from natural gas exploration, production, transmission and storage to LNG projects.


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