Gazprom Neft considering LNG production in Russia's Arctic
MOSCOW, Jan 23 (Reuters) - Gazprom Neft, the oil arm of Russian gas giant Gazprom, is studying the possibility of its own liquefied natural gas (LNG) production in the Arctic as it tries to monetize its vast natural gas reserves.
The discussions follow the successful launch of the Arctic-based Yamal LNG plant, controlled by Novatek, in December 2017. Russia wants to boost its global LNG market share in the next decade to around a fifth, from about 5% now.
Russia has only two large LNG plants in operation: Yamal LNG with capacity of 16.5 metric MMtpy, and Sakhalin Energy, at more than 10 metric MMtpy, on the eastern island of Sakhalin.
Gazprom Neft announced a tender late last year for a study on how best to use its gas reserves in the Yamal region. The tender was first revealed by Interfax news agency on Tuesday.
The company is seeking an analysis of oil and gas markets and ways to process its gas including in LNG form.
The project is in its initial stages, a Gazprom Neft spokesman said.
The company is also considering whether to build a gas pipeline on the Arctic seabed that would connect its Novoport field to the existing Gazprom network.
(Reporting by Oksana Kobzeva and Vladimir Soldatkin; Editing by Dale Hudson)
- Freeport LNG export plant in Texas reports shutdown of liquefaction train
- TotalEnergies and Mozambique announce the full restart of the $20-B Mozambique LNG project
- Five energy market trends to track in 2026, the year of the glut
- RWE strengthens partnerships with ADNOC and Masdar to enhance energy security in Germany and Europe
- Venture Global wins LNG arbitration case brought by Spain's Repsol
Comments