A special purpose company to be created between Mongolian Government and Gazprom

Ulaanbaatar /MONTSAME/ The Cabinet held its meeting on Friday, June 19. In frames of implementing a project on building pipelines between Russian Federation and People's Republic of China going through the territory of Mongolia, the Government of Mongolia and “Gazprom’ Public Joint Stock Company of Russia are working to establish a “Memorandum of Intent” (MOI) and a “Confidentiality Agreement” (Nondisclosure Agreement) to set up a special purpose company. At today's meeting Executive Director of “Erdenes Mongol” LLC P.Gankhuu has been tasked to work for reflecting proposals of the corresponding ministries in the draft documents and negotiating with the Russian side and present the outcome to the Cabinet. The memorandum outlines creating a special purpose company, developing feasibility study of building the pipelines, and other forms of financing and cooperation of the special purpose company and regulations related to the memorandum including dispute resolution and other matters.