Itera, a subsidiary of Russian oil company Rosneft, has signed a co-operation agreement with US-based technology company General Electric (GE) for processing liquefied natural gas (LNG).
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The firms will work together to evaluate opportunities for potential processing of low-tonnage LNG using GE technology. The partners will focus on analysing the scope for co-operation for the existing Bratskecogas assets.
GE and Rosneft are also likely to explore possibilities of joint work for deployment of GE technology and equipment to boost Rosneft’s efficiency and production capacity.
This deal is expected to strengthen the LNG production infrastructure and will open up new opportunities for monetising the gas reserves owned by the state-owned oil firm.
Rosneft also expects GE technology to boost the capacities of consolidated assets owned by Itera Oil and Gas.
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By GlobalDataRosneft Management Board chairman Igor Sechin said: "Rosneft has tripled its gas production in the last two years and we are glad to develop gas processing with such a technologically advanced partner as GE."
GE Russia/CIS president Ron Pollett said: "GE’s high-tech solutions create opportunities for enhancing productivity and contributing to our partners’ business development.
"Since 2004, GE has designed, manufactured, delivered and launched more than 140 cryogenic modules globally, including 11 units for the production of LNG and 130 to liquefy carbon dioxide gas.
"We are confident that our co-operation with Itera on gas monetisation will contribute to the modernisation of the Russian oil and gas industry."
