OREANDA-NEWS. UC RUSAL (SEHK: 486, Euronext: RUSAL/RUAL, Moscow Exchange: RUALR/RUALRS), a leading global aluminium producer, and Rosneft, Russia's leading petroleum company, announce the signing of a long-term agreement for the supply of petroleum coke and natural gas to RUSAL's plants. The document was signed by the CEO of RUSAL, Oleg Deripaska and the President of Rosneft, Igor Sechin at the XVIII St. Petersburg International Economic Forum.

The agreement forecasts the supply of a total of 2.65 million tonnes of petroleum coke and up to 12 billion cubic meters of natural gas to RUSAL's plants. Through this cooperation, Rosneft creates a guaranteed sales market for its petroleum coke and natural gas products and RUSAL secures the stable supply of essential raw materials to its aluminium facilities.

Both companies have also signed a partnership agreement for the supply of other petroleum products, which will provide RUSAL with a range of high-tech lubricants and fluids. In addition, the partnership agreement will permit the joint research in the development of an extended range of lubricants required for the aluminium industry.

Commenting on the signing of the agreements, Oleg Deripaska said: “The development of a long-term and mutually beneficial cooperation with Russia's leading companies is one of our top priorities. The partnership with Rosneft will not only provide RUSAL's plants with the raw materials required for the continued production of aluminium, but will also create a platform for the development of new products. This cooperation will help unite our efforts in improving the competiveness of Russian resource production and reduce our dependence on imports.”

Igor Sechin commented: “The quality of Rosneft's industrial lubricants is highly regarded by major technological and industrial companies in Russia. We believe that this cooperation with RUSAL, and the use of petroleum products at RUSAL's facilities, will trigger the creation of new products for industrial equipment maintenance and will be an additional incentive for the further expansion of this part of the business by Rosneft”

Agreements signed are subject to approval by UC RUSAL's Board of Directors.