OMV and Gazprom to cooperate in small scale LNG production terminal

The documents were signed by the Chairman of the Gazprom Management Committee, Alexey Miller, and the Chairman of the OMV Executive Board, Rainer Seele. They were signed at the St Petersburg International Economic Forum 2017.

OMV claims that the parties signed a memorandum of understanding (MoU) outlining the principles of a potential cooperation between the two companies in coordinating activities for the development of the gas transmission infrastructure needed for providing natural gas supplies central and southeastern Europe.

In addition to this, a framework agreement was signed by the parties to collaborate in the small scale LNG sector. The two companies are intending to cooperate in a joint integrated project for a small scale LNG production terminal in the area of the Russian Black Sea coast, as well as the transportation, marketing and sales of the LNG production.