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Rosneft President, Chairman of the Management Board Igor Sechin and AVTOVAZ President Bo Inge Andersson signed an Agreement of development of strategic cooperation, which significantly expands the scale of partnership between the companies. Among other things the document envisages the development, testing and introduction of lubricant materials and other Rosneft oil products required by AVTOVAZ businesses; and the possibility of closing of long-term contracts for the supply of AVTOVAZ production facilities with high-quality lubricant materials and oil products. Such a cooperation configuration will allow AVTOVAZ to optimize the purchasing procedures and curtail production expenditures.