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GAZPROM

September 10, 2003

The results of Gazpromís delegation visit to Washington

Gazpromís delegation is about to complete its visit to the USA.

A meeting of Alexey Miller, Gazpromís Management Committee Chairman, Don Evans, the US Commerce Secretary, and Spencer Abraham, the US Energy Secretary, took place in Washington on the 9th of September.

Donald Evans confirmed the US Administrationís interest in creating favorable conditions for developing business cooperation between Gazprom and American energy companies. Spencer Abraham declared that the US Department of Energy welcomes possible appearance of Gazprom on the US gas market as a liquefied natural gas (LNG) supplier. Alexey Miller informed the participants of Gazpromís plans on cooperation with American partners in the Shtokmanovskoye gas and condensate field development project.

Reference

The USA is the worldís biggest natural gas consumer. In 2002, actual gas consumption in the USA amounted to 667.5 bcm, or 26.3% of the global consumption. At the same time, domestic gas production amounted to 548 bcm in 2002.

The USA is one of the most promising LNG markets in the world. Currently, the USA imports about 6.5 bcm of LNG. However, according to expert forecasts, LNG import to the USA could grow up to 104 bcm by 2020 as a result, first of all, of increased gas consumption in power generation. Steady economic growth of the country could lead to increased gas consumption in municipal, commercial and industrial sectors.

So far, 4 LNG terminals with the total annual capacity of about 23.5 bcm have been built in the country. Another 10 terminals with total annual capacity of over 75.5 bcm are planned for construction on the eastern and western coasts of the USA.

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