The agreement was struck between Alexey Miller, chairman of Gazprom’s management committee, and Antonio Brufau Niuby, chairman and CEO of Repsol.

In line with the agreement, the two companies will study potential joint businesses in Europe, Latin America and Africa, as well as within LNG projects using resources from the Russian Federation, including within the Baltic LNG project.

For Repsol, the agreement will complement its strategy to diversify geographically, and follows the opening of a Repsol office in Moscow back in February.