Engineering News

Gazprom, Libya To Form Refining JV
Wednesday, July 09, 2008

Russian gas monopoly OAO Gazprom said Wednesday it has agreed to create an oil refining joint venture with Libya's National Oil Corporation.

The venture will entail both the modernization of existing refineries and construction of new ones.

Gazprom offered to buy all gas, oil and liquified natural gas exported from Libya. The offer was welcomed by the Libyan side.

Gazprom also said it has accepted Libya's offer to discuss potential construction of a new gas pipeline leading from Libya to Europe.

Source: Dow Jones Newswires

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