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Gazprom and Gaz de France Strike First LNG Swap Deal

Source: www.gulfoilandgas.com 11/23/2005, Location: Asia

Gazprom and Gaz de France have struck the first deal for the swap of pipeline gas for LNG. The Accord was sealed between Gazprom Marketing & Trading Ltd (Gazprom M&T) and Gaz de France, MED LNG & GAS and Shell. Under the Accord, Gazprom will supply Gaz de France with extra amount of pipeline gas in exchange for a shipment of LNG from MED LNG & GAS, a joint venture of Gaz de France and Sonatrach.

An LNG tanker will be sold in early December 2005 to Shell Western LNG at the Cove Point regasification terminal (Maryland, USA).

“In an effort to solidify Gazprom’s standing in the conventional European natural gas market, we are striving to enter a global gas market by swapping pipeline gas for LNG. In line with the strategy of converting Gazprom into a world-class energy firm, this move will give us additional opportunities for promoting our business in the LNG supply sector,” said Alexander Medvedev, Deputy Chairman of Gazprom’s Management Committee.

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Related Categories: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 

Related Articles: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 


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