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Agreement calls for Russia’s Rosneft to build 100 gas stations in Mongolia

Wednesday, 27 February 2008

Russian oil producer Rosneft will freeze oil prices at January levels as part of an agreement to build 100 consumer gasoline stations. The company said this price freeze will remain intact through July.

This follows word that the company has received a $3.1 billion loan to assist in its restructuring of debts.

As part of the deal to freeze oil prices for Mongolians, Rosneft will not be required to pay for the land used for building the gasoline stations in Mongolia.

However, Tuesday’s announcement indicates relations between Mongolia and Rosneft are steadily improving.

Besides opening gasoline stations, Rosneft is discussing plans to work in tandem with partners to provide aviation fuel to Mongolia’s airports.

Rosneft has been a prime user of Mongolian rail lines to ship Russian oil to China. However, volatile costs of fuel had caused the price of transporting fuel to rise and Rosneft had previously considered discontinuing use of Mongolian rails.

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During the Stalinist purges of the 1930's almost every monastery in Mongolia was destroyed. In 1979 an atlas was published in Ulaanbaatar by Mr. Rinchen with an overview of more than 900 religious sites that used to exist in Mongolia. However a lot the information listed seems to be not accurate. A research has been initiated to get a better idea of all the buddhist buildings that once stood in Mongolia.