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Rosneft and EGPC Agreed on the Term Sheet of Oil Products and LPG Future Supplies
07 July 2015
Rosneft Chairman of the Management Board Igor Sechin and Egyptian General Petroleum Corporation (EGPC) General Director Tarek El-Molla signed a Term Sheet for prospective supplies of oil products and liquefied petroleum gas (LPG) delivered by Rosneft to the Egyptian company.
The document, signed in continuation of agreements reached at the St. Petersburg International Economic Forum defines key terms of cooperation between the companies in the area of oil products and LPG direct supplies. Rosneft and EGPC expect binding agreements based on the agreed Term Sheet to be signed within the third quarter of 2015.
Execution of the terms of the signed document will allow Rosneft to significantly expand the cooperation with Egypt and EGPC as well as strengthening Rosneft’s position as a supplier of oil product and LPG in Northern Africa. Moreover the partnership with the Egyptian company will boost Rosneft trading potential both on a regional and global scale.
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Note for editors: Rosneft has been an accredited supplier of the state-owned Egyptian General Petroleum Corporation since the beginning of 2015 and participates in all tenders for spot supplies of oil products and liquefied petroleum gases. So far, Rosneft has won the right to supply 425,000 mt of oil products totaling approximately $150 mln for supplies in April, May & June 2015. |
Rosneft Information Division
Tel.: + 7 (499) 517-88-97
July 7, 2015
These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligation to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.