ERBIL, Kurdistan Region – The KRG has signed a new deal with Russian oil and gas giant Rosneft on the sidelines of the St. Petersburg International Economic Forum. The agreement focuses on developing Kurdistan Region’s gas sector, beginning with a “detailed analysis of potential gas cooperation options,” Rosneft stated on Friday. Rosneft will analyze exploration and production, transportation and trading to develop “an integral plan to progress the gas business within the Kurdish Region of Iraq.” One aspect of the agreement is preliminary engineering and design for construction and operation of a gas pipeline. “We have signed an agreement with Rosneft for building a gas pipeline,” KRG’s Minister of Natural Resources Ashti Hawrami told Rudaw on Friday. Rosneft described the pipeline as a “key project to the monetization of the exploration and production opportunities Rosneft has been evaluating” in the Kurdistan Region. Rosneft, which signed oil and gas deals with the KRG before and after the contentious Kurdistan’s independence referendum, is a key player in the sector. Igor Sechin, Rosneft CEO, told Rudaw they will continue to develop ties with the Kurdistan Region.
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