Russian oil giant Rosneft signed long-term contracts worth $2.1 billion with Mongolian oil product importers, Rosneft announced on Friday.
According to the company, the long-term contracts to supply gasoline and diesel fuel were signed with 12 Mongolian importers during the 22nd Saint Petersburg International Economic Forum, which is taking place from May 24–26.
'The contracts have been concluded directly with the final consumers of oil products, which makes these contracts economically attractive for both parties,' the company said.
'With a ten-year presence in the Mongolian fuel market, Rosneft has increased its share up to 80 percent in Mongolia,' the statement read.
Additionally, Rosneft signed a package of agreements with Ghana National Petroleum Corporation to deliver liquefied natural gas (LNG) to the country's port of Tema.
In accordance with the deal, Rosneft will supply 1.7 million tonnes of LNG annually to the country over a 12-year period.
Rosneft expects these gas supplies will meet a quarter of Ghana's energy demand, while strengthening its energy security and reinforcing the country's position as a key LNG hub in the region.
By Firdevs Yuksel