Fortum And Lukoil Sign Agreement On Technology Collaboration‏

Fortum and the Russian energy company Lukoil have signed a technology collaboration framework agreement. The agreement covers collaboration in the areas of operation, maintenance and capacity upgrades of power plants and heating networks, among others. The companies also agreed on research and development collaboration aiming to improve energy efficiency. The collaboration agreement was signed today in conjunction with the St. Petersburg International Economic Forum.

The agreement is based on Fortum’s long experience in providing operation and maintenance services to Russian energy companies. Fortum, for example, performs efficiency and productivity optimisation audits at Lukoil’s power plants.

”Collaboration with Lukoil, one of the world’s leading energy companies, provides us with even better opportunities to develop energy-efficient electricity and heat production in Russia,” says Fortum’s President and CEO Tapio Kuula. ”Sustainability is at the core of Fortum’s strategy, and I am very pleased that we can offer also Lukoil our know-how in this area,” he emphasises.