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Gazprom and Repsol in talks about Yamal LNG

Gazprom boss Alexei Miller and Repsol executive chairman Antonio Brufau discussed development of an LNG-export plant on Russia's Yamal peninsula in a meeting at the WGC in Buenos Aires, the Russian firm said yesterday. The two firms will meet again in December to negotiate a deal, according to a newswire report. Negotiations between the Russian gas monopoly and Spain's Repsol over LNG projects began in March. In the wake of the credit crunch, Russia is turning again to Western multinationals to help it develop capital-intensive projects in its upstream. Miller told the WGC on Tuesday that his company hoped to produce 90m tonnes a year of LNG by 2020.

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