The Gazprom Management Committee considered the information related to the Baltic LNG project activities.

The meeting decided to complete the Justification of Investments for Construction of the LNG Production Plant and Marine Terminal in the Baltic Sea Offshore Area.

Reference:

The Baltic LNG project stipulates construction of the LNG plant in the Leningrad Oblast. The Baltic LNG Company was set up in the aim of executing the said project, where Gazprom Germany and Sovkomflot hold 80, 20 per cent, respectively. The plant capacity might be equal to 5 or 7.2 mln tons of LNG per annum depending on the number of trains (1 or 2).

The market of the Atlantic basin is the most attractive zone for LNG deliveries. In 2012 the parties plant to enter the LNG market.