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Gazprom and Shell sign Baltic LNG agreements

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LNG Industry,

Gazprom has announced that it has signed a heads of agreement (HoA) with Royal Dutch Shell at the St Petersburg International Economic Forum 2017 to establish a joint venture (JV).

The document was signed by the Chairman of the Management Committee of Gazprom, Alexey Miller, and the CEO of Royal Dutch Shell, Ben van Beurden. It describes the concept behind the JV, which will secure financing for and carry out the design, construction and operation of the LNG facility in Leningrad Region, Russia. Based on that concept, both companies will take further step steps towards implementing the Baltic LNG project.

In addition to this, Gazprom claims that the parties signed a joint study framework agreement on the Baltic LNG project. The signing of this document will enable both companies to commence the development of the preliminary project documentation as soon as possible.

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