Gazprom CEO Alexei Miller and his counterpart over at national Ukrainian oil and gas company Naftogaz Ukrainy Yevhen Bakulin signed a memorandum in Moscow on Tuesday that foresees the creation of a joint venture that would extract methane from coal strata in Ukraine, Gazprom said in a statement.
The two parties will address issues involving a feasibility study for the JV, drafts of founding documents – including determination of how much charter capital is to be involved, how the management team will be put together and how it will tackle decision-making. The parties will also be looking at question of developing principles and sources of financing for the JV’s operations, and drawing up a list of its primary projects.
The joint venture will be set up as a 50/50 partnership.
