Gazprom Offers to Buy All Libya's Oil and Natural-Gas Exports

[phantom power]

July 9 (Bloomberg) -- OAO Gazprom offered to buy all of Libya's oil and natural gas destined for export as Russia's largest energy producer strives to expand on global markets.

(...)

Russia, the world's largest producer of natural gas, is seeking to lead closer coordination among nations that produce the fuel. Moscow will host a meeting of the Gas Exporting Countries Forum later this year.

Libya, Africa's third-largest oil producer, wants to build new energy partnerships after nearly two decades of international sanctions. Gazprom today received a proposal to help build ``new gas transportation capacity'' from Libya to Europe, the state-run Russian company said.

The two sides agreed to start talks on Gazprom buying ``available volumes of Libyan hydrocarbons,'' according to the statement. They also agreed to set up a joint venture to modernize existing oil refineries and build new plants.

http://www.bloomberg.com/apps/news?pid=20601072&sid=andt9UsjIhxg&refer=energy

[Andy823]

1. Joint ventures are a great idea.

And unlike Bush and his "invasion" tactics he used on Iraq, it won't cost the Russians "trillions" in lost revenues that will never be put back in the U.S. treasury!

Instead of "taking" whatever you want, like Bush and Cheney, countries can work together for the benefit of both sides, and come up with programs and investments that will help everyone, not just the rich oil barons who want the whole world in their pockets!

[hunter]

2. But dammit.... that's supposed to be OUR natural gas!

NOOOOOOoooooooo.......

[phantom power]

3. Heh. A lot can happen between now and Jan 20...