Gazprom to team up to produce LNG equipment

At the recent St Petersburg International Economic Forum 2016, Gazprom, Linde, Power Machines and Salavatneftemash signed an Agreement of Intent to explore the possibilities for joining efforts to establish a Russian-based manufacturer of natural gas liquefaction and processing equipment.

The agreement was signed by Alexey Miller, Chairman of the Gazprom Management Committee, Wolfgang Buechele, Chief Executive Officer of Linde, Alexey Mordashov, Chairman of the Board of Directors of Power Machines, and Alexey Mityushov, Chairman of the Board of Directors of Salavatneftemas

The parties plan to prepare a feasibility study and a business plan to identify the most efficient form of partnership, including a possible joint venture, by the end of 2016.

The feasibility study and business plan will take into account the technological demand for and the competitiveness of LNG equipment in Russia. Gazprom said that Russian-made components will be used in the manufacturing process to the maximum extent possible. The parties have tentative plans to manufacture a wide range of equipment for facilities employing various technologies for natural gas liquefaction and processing.

Edited from press release by Callum O'Reilly

Read the article online at: https://www.lngindustry.com/liquefaction/20062016/gazprom-to-team-up-to-produce-lng-equipment-2626/