Gazprom targets emerging LNG markets

“The Gazprom Board of Directors approved the company's policy on the diversification of export routes and additional measures aimed at increasing the reliability of gas supplies to European markets,” a statement from Gazprom said.

The Yamal–Europe gas pipeline is up and running and two strings of the Nord Stream gas pipeline have been laid under the Baltic Sea, with the possibility to extend this pipeline corridor by building one or two additional strings.

The gas giant also said that the South Stream project was on target to supply its first gas in late 2015. “All the contracts are signed for the construction of the first two offshore sections of the gas pipeline,” the statement read. “The final investment decisions are adopted in Bulgaria, Serbia, Hungary and Austria.”

LNG supply

The company said that its main LNG supply destinations were emerging markets in South and Central America, the Middle East, India, European countries not currently receiving Gazprom Group's pipeline gas (Spain, Portugal, Ireland) and other markets in Europe. LNG would be supplied from the Baltic LNG project.

On top of this, Gazprom said it was considering ways of expanding the scope of LNG-LNG swap deals.

Adapted from press release by Ted Monroe

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