RBTH: Gazprom announces new LNG project
Gazprom might revive a liquefied natural gas (LNG) project on the Baltic Sea, Kommersant reports. The monopoly may intend to carry out a project that was scrapped in 2007, now geared toward supplying LNG to Europe. While the gas monopoly could encounter problems signing LNG contracts in Europe, it would have no problems with the EU’s Third Energy Package requirements.
Gazprom CEO Alexei Miller told Interfax in late May that his company would announce “a totally new LNG project” in Russia in the immediate future, although he did not elaborate. A source familiar with the gas monopoly’s plans said Miller might have meant construction of a new gas liquefying plant at Primorsk, in Russia’s Leningrad Region.
The source told Kommersant that the project would be carried out jointly with Zievudin Magomedov’s Summa group (co-owner of the port). He added that Gazprombank was also involved in the negotiations.
Gazprom has long had plans to build a Baltic LNG plant at Primorsk, but the project was judged unprofitable in 2007. Kommersant’s sources insisted that Gazprom was reviving the project in order to supply LNG to Europe, competing primarily with Qatar’s LNG.
The Leningrad Region government said it was unaware of Gazprom’s resurrected plan. The gas monopoly and Summa refused to comment. MORE