OREANDA-NEWS. June 01, 2009. The Company’s Management Committee has addressed the issue of stepping up liquefied natural gas (LNG) projects in the Russian Federation.

For the purpose of promoting Gazprom’s production and supply activities in the LNG sector, the Management Committee entrusted the Company’s specialized subdivisions with the following assignments:
work out pre-investment documentation for the integrated LNG project based on the Yamal Peninsula fields (the licenses for the fields are held both by Gazprom and by independent producers);
speed up the preparation of pre-investment documentation for a new LNG plant in the Far East.

Background:

In order to retain the leading positions in the global gas market, Gazprom is implementing the Strategy for Liquefied Natural Gas Production and Supply.

Under the current market condition the following advantages of LNG projects are gaining significance:
transit risks minimization;
stable manageable level of transportation costs over a long-term period;
shaping additional solvent demand for Gazprom’s gas through the access to new markets.

In addition, the current trends in the global markets create preconditions for Gazprom to intensify the LNG production and supplies.

The possibility for an LNG plant construction on the basis of the Tambey group of fields is under consideration as part of the LNG project on the Yamal Peninsula.

Gazprom is exploring the prospects for creating new LNG capacities in the Far Eastern Federal District, which is primarily aimed at delivering LNG to Asia-Pacific markets including Japan.