Russia
's
state-run gas firm OAO Gazprom (GAZP.RS) and Royal Dutch Shell PLC(RDSA.LN) are
to sign a memorandum on the expansion of their cooperation in and outside
Russia
,
Gazprom Deputy Chief Executive Alexander Medvedev said Monday.
Gazprom's cooperation with Shell could expand in
Sakhalin
,
Medvedev said, without giving any more details on the memorandum.
"We are happy to invite foreign partners to develop our upstream reserves,
but only if in exchange we get the access to their first class projects
somewhere in the world," Medvedev said. "We do know Shell has good
assets, which could be of interest for us."
Gazprom and Shell jointly operate the Sakhalin-2 project on Russia's Pacific
Coast and launched Russia's first liquefied natural gas plant in February last
year. The companies cooperate through the
Sakhalin
joint
venture, in which Gazprom holds a 51% stake, Shell a 27.5% stake, Mitsui &
Co. Ltd. (8031.TO)
12.5% and Mitsubishi Corp. (8058.TO) 10%.