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Gazprom sales continue to grow

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LNG Industry,

Gazprom has announced that its LNG sales are continuing to grow. The company’s Board of Directors has discussed the current LNG market to decide upon its strategy for both the production and supply of LNG. Growing markets in China, India and South-eastern Asia were all key considerations for Gazprom.

Over the first 6 months of 2015, Gazprom sold a total of 22 LNG cargoes. The total LNG volume, therefore, exceeded 1.5 million t, which reflects an increase by 17% compared to the first 6 months of 2014. Additionally, it is equivalent to Gazprom’s total LNG sales in 2013. The number of deals Gazprom has made has grown, due to settled contracts, spot deals and swap deals becoming more popular.

Gazprom is currently in the process of implementing a third LNG processing train for both the Sakhalin II project and the Baltic LNG project. When complete, they will be able to produce up to 5.4 million tpy and 10 million tpy, respectively. Additionally, Gazprom aims to expand its network of low-tonnage LNG facilities, with the hope that it can sell even greater volumes of LNG.

Edited from press release by David Rowlands

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