According to Reuters, Russia and Bahrain have reached an agreement to increase cooperation in the LNG sector, with Russia considering the supply of LNG to Bahrain.
Gazprom and Bahrain’s National Oil and Gas Authority (Noga holding) signed a memorandum of understanding (MoU) whilst the President of Russia, Vladimir Putin, met the King of Bahrain, Hamad bin Isa al-Khalifa, in Moscow, Russia.
Reuters reports that documents prepared before the meeting stated: “Co-operation in the energy sector is of mutual interest.”
Rosgeologiya (RusGeology) and Noga also reportedly signed an MoU to increase their partnership in oil and gas exploration.
Reuters reports that the documents said: “The five-year program for geological exploration offshore of Bahrain starting from 2017 has been prepared.”
Gazprom and Kogas officials recently held a working meeting to discuss the prospects for increasing gas exports following the commissioning of a third LNG train at the Sakhalin II project.
According to Reuters, Bahrain’s Nogaholding has signed for a five-year, US$570 million murabaha financing facility, which will help the company invest in various energy projects, including an LNG terminal.