MOSCOW—Russian gas export monopoly Gazprom said on Wednesday it met Libyan leader Muammar Gaddafi and was looking at buying all of the North African country's oil and gas exports.
"Libya positively evaluated Gazprom's proposition to buy all future volumes of gas, oil and LNG (liquefied natural gas) designed for export at market price," Gazprom said in a statement after its chief executive Alexei Miller had talks with Gaddafi in Libya.
Gazprom did not give further details on volumes or timing of its proposal.
The world's largest gas firm is also planning a joint refining venture with Libya's National Oil Corporation (NOC), the statement said, and the construction of pipelines.
"(The two) sides agreed to create a joint venture which will involve both modernising existing refineries and also creating new refineries," it said.
Gazprom also accepted Libya's offer to build pipelines to Europe from the North African state, and said that a second, possible joint venture is also being looked at, focusing on gas and oil exploration and development.
Gazprom and Italian energy major Eni formed a strategic partnership in 2006, which allowed for energy asset swaps, including those Eni has in Libya.
Gazprom's interest further cemented in April, when it signed a memorandum of cooperation with NOC in Tripoli. At the time it said it wanted to develop infrastructure including pipelines.
The North African country aims to become a major gas producer and expand production to 3 billion cubic feet per day (bcfd) by 2010, with a potential for 3.8 bcfd by 2015 versus 2.7 bcfd now.
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