MOSCOW — Gazprom CEO Alexei Miller and LUKoil President Vagit Alekperov have signed a strategic partnership agreement for 2005-2014. The two companies will jointly implement projects for exploration and development of oil and gas fields in the Yamal-Nenets autonomous region, Nenets autonomous region, Russia's part of the Caspian Sea, Uzbekistan and some other areas. Gazprom and LUKoil also agreed to develop cooperation in transporting oil and gas condensate by sea from the northern areas of the Nenets and Yamal-Nenets autonomous regions.

The two companies will annually revise the amount and range of the supplies. To optimize the use of LUKoil and Gazprom oil and gas processing capacities, a joint long-term program will be prepared for hydrocarbon processing and the production of rubber, plastics and other products.

So far, Gazprom-Lukoil cooperation has been based on a strategic partnership agreement for the period until 2005, signed in November 2002. In July 2003, the two companies set up joint stock venture TsentrKaspneftegaz to develop the Tsentralnaya project in the Caspian Sea together with Kazakh company KazMunaiGaz. In October 2003, Gazprom and LUKoil signed a contract under which LUKoil is to supply natural gas from the Nakhodka gas field in the Yamal-Nenets autonomous region starting in 2005. On March 28, 2005, the field was linked to Russia's single gas transportation system.