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Siemens and Gazprom sign MoU to work together on LNG technology

LNG Industry,

Today, Alexey Miller, Chairman of the Management Committee of Gazprom JSC, and Peter Loescher, President and CEO Siemens AG have signed a Memorandum of Understanding during the St. Petersburg International Economic Forum. The parties intend to cooperate in the area of LNG technology development and will carry out a number of joint development programs.

The joint development programs include the construction of a demo plant for LNG production based on technology of liquefaction "Liquefin" as well as a study to evaluate the possibility of joint manufacturing of components for Russian LNG plants. Furthermore the two companies will jointly review the framework of future phases of Shtokman gas field.

Peter Löscher, CEO of the Siemens AG said, “We are actively developing our business in Russia by making large investments in local facilities along with implementing energy efficient and environmentally friendly technologies. Gazprom is a long term partner. Today we have taken another step to strengthen our cooperation in a strategic area.”

This deal follows a similar pattern to Russia's other dealings with foreign oil and gas firms. When they called in foreign companies to work in the Yamal peninsula in 2009, they structured the deals so that foreign companies would receive access to assets as long as they transferred technology to the Russian oil industry by localising production and working with Russian engineers. It is also not unknown for Russia to bully foreign companies into complying with its demands through the agency of its state-owned gas monopoly Gazprom.

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