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Rosneft, Gazprom may agree joint development of Sakhalin-3

Rosneft president Sergei Bogdanchikov believes joint development of Sakhalin-3 resources with Gazprom is a possibility.

'In the Far East alone Rosneft has 2,600 km of various pipelines,' Bogdanchikov told Interfax on the sidelines of an economic forum in Krasnoyarsk. 'Not all of them are new, but some could be used in a future project. Gazprom already has infrastructure on Sakhalin. I believe that the least expensive and most useful way - for the two companies and for the Russian economy - is to reach agreement, to find mutually beneficial terms.'

If the license was sold tomorrow then oil production would start in 12-14 years and require, as a rule, 15 bln usd to 20 bln, he added.

'It is logical to make use of every opportunity ... to minimize costs and share risks through joint efforts,' he said, adding, 'We're always ready to cooperate.'

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