Rosneft and Golar LNG Limited signed a Memorandum of Understanding that foresees cooperation between the companies in the area of liquefaction and transportation of natural gas.

Within the ambit of the memorandum the parties will analyze the possibility of employing Golar’s advanced FLNG (Floating Liquefaction of Natural Gas) commercialization technologies at Rosneft projects, potentially opening new markets to Rosneft, one of the leading hydrocarbon producers in the world.

While a potential opportunity to further develop its FLNG business for Golar, implementation of the memorandum would also allow Rosneft to accelerate development of its gas fields and reduce upfront CAPEX for LNG plants by using the Golar FLNG fleet.