You're reading: Gazprom, Naftogaz to set up two joint ventures

Russia's Gazprom and Ukrainian national oil and gas company Naftogaz have reached agreements to set up two joint ventures to mine for coal-based methane and develop the offshore Pallas deposit in the Black Sea, Gazprom announced.

The agreements were the result of a meeting between Gazprom chief executive Alexei Miller and Ukrainian Fuel and Energy Minister Yury Boyko.