The Gazprom Board of Directors has approved the company’s new strategy to diversify its export routes in an attempt to increase Russia’s gas competitiveness.
Global gas markets
The company emphasised that gas supply alternatives, as well as enhanced reliability and safety of supplies, were key factors influencing the attractiveness of Gazprom’s products for international markets over a long-term period.
With a view to providing stable and well-balanced supplies of Russian gas to Europe, as well as mitigating the risks related to gas transit via third countries, Gazprom plans to expand existing gas transmission routes and to build up new ones.
In addition to pipeline projects, Gazprom is continuing to reinforce its positions in the LNG trade and transportation sectors. In 2014, Gazprom sold 4.5 billion m3 of LNG, surpassing the 2.0 billion m3 sold in 2013 more than twofold. The company is keen to promote Gazprom’s LNG in emerging markets in Asia-Pacific.
Gazprom intends to strengthen its presence in new markets primarily by the way of increasing its own production activity. The company plans to construct LNG plants with a capacity of 10 million tpy in the Leningrad Region and the Primorye Territory. There is also the possibility to construct a new process train within the Sakhalin II project.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/25022015/gazprom-aiming-for-new-export-routes-315/