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 You are in: Under Secretary for Public Diplomacy and Public Affairs > Bureau of Public Affairs > Bureau of Public Affairs: Press Relations Office > Press Releases (Other) > 2001 > June
Press Statement
Philip T. Reeker, Deputy Spokesman
Washington, DC
June 15, 2001


Signing of Williams - Yukos Oil Supply Agreement

The United States welcomes the oil supply agreement signed today between Tulsa, Oklahoma-based Williams International and the private Russian oil company Yukos. This partnership among the two companies and the Government of Lithuania should ensure regular crude oil supply to the Mazeikiu Nafta refinery and Butinge terminal, which Williams manages in Lithuania.

Because it is anticipated that crude and oil products from the Mazeikiu facilities will reach not only European customers but also the United States, implementation of this agreement will support global energy security, a key objective of the Administration's National Energy Policy.

This agreement accords with our Northern Europe Initiative, which promotes cross-border cooperation in the Baltic region. It is an important example of the commitment of a Russian company to a cooperative, free market-based business agreement. It also promotes Lithuania's stability and prosperity as well as constructive American and Russian commercial interests in the region. The deal also should encourage international financing for the renovation of the refinery into a showcase facility.

Over the last two years, Williams International has worked to secure a stable, long-term supply of oil for the refinery. On several occasions, the refinery had to shut down because of inconsistent oil shipments from suppliers. Today’s agreement signals the serious interest and cooperation of both Williams and Yukos, and that Mazeikiu Nafta refinery should now be able to operate without interruption. It also allows for diversification of supply through deals with other Russian and Kazakh suppliers.


Released on June 19, 2001

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