Gazprom Continues Boosting LNG Sales

Source: www.gulfoilandgas.com 10/20/2015, Location: Asia

The Gazprom Board of Directors took notice of the information regarding the implementation of the strategy for production and supply of liquefied natural gas (LNG).

Among the crucial factors determining the current status of the LNG market were highlighted the following: further growth of demand at promising markets of China, India and Southeastern Asia as well as the emergence of new LNG importers.

Gazprom goes on developing LNG sales from its portfolio. Over the first 6 months of 2015 it sold 22 LNG cargoes with the total volume exceeding 1.5 million tons, thus showing a 17 per cent increase as compared to the same period of the previous year. This is equivalent to the total LNG sales in 2013.

Gazprom has increased the number of deals, thanks to a rise in LNG volumes being purchased through the settled contracts, as well as to spot and swap deals. The Company is active in LNG sales, including urgent LNG shipments, and supplies to the new markets of the Middle East, Latin America and Southeast Asia.

With a view to expand its own LNG production, the Company is implementing the project for constructing the third process train within Sakhalin II (up to 5.4 million tons per year) as well as the Baltic LNG project (10 million tons per year).

Gazprom also aims to market additional gas volumes via low-tonnage LNG supplies. To achieve the target, Gazprom builds up its production capacities and expands the network of low-tonnage LNG facilities.


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