By OGJ editors
HOUSTON, Sept. 23 -- ChevronTexaco Corp. and OAO Gazprom announced a memorandum calling for feasibility studies concerning joint oil and natural gas projects in Russia and the US.
Chevron Neftegaz Inc. said ChevronTexaco and Gazprom will assess the feasibility of an integrated LNG project in Russia and Gazprom's potential participation in a ChevronTexaco-led gas import terminal project in North America.
In addition, the parent companies will study ChevronTexaco's potential participation in existing Gazprom projects in northwest Siberia and possible joint participation in other oil and gas opportunities.
ChevronTexaco Chairman and CEO Dave O'Reilly said, "The development of a global, integrated natural gas business is a cornerstone of our own growth strategy."
Gazprom Chairman Alexey Miller said, "For Gazprom, access to the American gas market is strategically important, and in addition, we are keen to bring advanced LNG production and transportation technologies to Russia."
Previously, Gazprom announced plans for feasibility studies with Statoil ASA (OGJ Online, Sept. 10, 2004). Gazprom and OAO NK Rosneft signed a memorandum with Statoil on Sept. 8 to conduct studies investigating the feasibility of joint participation in LNG projects.
Statoil's Snøhvit LNG development experience off Norwayand the ability to market LNG in North America (OGJ Online, June 14, 2004)could lead to its participation with Gazprom and Rosneft in developing supergiant Shtokmanovskoye gas condensate field in the arctic Barents Sea (OGJ Online, July 16, 2002).
Gazprom and Rosneft also are interested in possible participation in the Snøhvit project and use of Statoil regasification capacities in North America (OGJ Online, June 14, 2004).
In both memorandums, Gazprom agreed to 6-month feasibility studies.