ROSNEFT NEEDS PRIORITIES
Despite the recent Memorandum of Understanding (MoU) between Rosneft and Golar LNG, the former's current gas strategy is narrowly focused on developing domestic reserves and initiating Liquefied Natural Gas (LNG) projects in Russia, according to an analyst with research and consulting firm GlobalData.
While the MoU can be interpreted as the continuation of Rosneft's expansion into the Latin American upstream sector, where it already has interests in Venezuelan heavy oil developments and Brazilian exploration blocks, the region's natural gas opportunities may struggle to compete with already identified, low-cost prospects in Russia.
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