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Rosneft considering Vankor gas exports to China
MOSCOW, February 4 - Rosneft, Russia's largest oil company, is considering the possibility of exporting gas from its massive Siberian fields to China, a top executive said on Friday.
"Rosneft's key projects in the gas sector are the Kharampur and Vankor fields. We believe we have good resources and will do our best to enter target export markets - China or other countries," Rosneft's vice president for economics and finance, Pavel Fyodorov, said.
Peter O'Brien, the company's vice president for finance and investment, said China was a promising gas market but did not specify what form of partnership would be interesting for Rosneft.
During a conference call on Friday, senior Rosneft executives said that if specific agreements on direct gas supplies were reached, Rosneft would intensify development of gas fields in Western Siberia and increase gas production in 2011.
Fyodorov declined to say whether the company was in talks on gas exports but confirmed that Rosneft planned to raise oil production by 1%, or by 650,000 metric tons, this year.
In 2010, Rosneft increased oil production by 6.1% to 119.5 million metric tons.
Rosneft posted a U.S. GAAP net profit for 2010 of $10.672 billion, up 63.7% on the previous year. Revenue for the year rose 34.6% to $63.047 billion.
Source: RIA Novosti
04.02.2011
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