LUKOIL understands the value of gas.

The details of the agreements on cooperation between LUKOIL and "Gazprom" are published. The oil company, struggling with a decrease in production is going to begin to work actively in the gas business in the coming years. It can become a partner of "Gazprom" in projects in Eastern Siberia and the Far East by exporting gas to the Asia-Pacific Region (APR), as well as into the Nenets Autonomous District and Uzbekistan. LUKOIL has to overtake the competitors who have paid serious attention to the gas in the last few years ago in the new direction of development, "the Kommersant" writes.

In the coming years LUKOIL is going to significantly increase its presence in the gas business, a source close to the company stated. "Now there are almost no major oil assets left, especially in the traditional regions of the company, such as the Nenets Autonomous District. It makes sense to focus on gas. In addition, many new large deposits contain the oil rim", - one of the interlocutors states. "Gazprom" should be the main partner of LUKOIL here. This is stated in the partnership agreement for 2014-2024, concluded at the St. Petersburg Economic Forum last week, sources familiar with the document state.