Russian energy giant OAO Gazprom (GAZP.RS) and Equatorial Guinea's liquified natural gas company, EG/LNG, have reached an agreement to cooperate in the areas of gas and energy, national radio reported Sunday.
"Gazprom and EG/LNG signed a cooperation agreement in the gas and energy sectors," the radio announced without specifying the terms of the deal.
The signing of the accord took place during a visit to Equatorial Guinea by the head of Gazprom, the world's biggest gas company, Alexei Miller.
The EG/LNG's shareholders include the U.S. oil company Marathon Oil Corp. (MRO) with a 60% stake, while the country's national gas company holds 25% of shares, the Japanese corporations Mitsui & Co. Ltd. (8031.TO) with 8.5% and Marubeni Corp. (8002.TO) with 6.5%.
Equatorial Guinea is sub-Saharan Africa's third largest oil producer after Angola and Nigeria, with estimated gas reserves of 40 billion cubic meters.