Gazprom changes money: Gazprombank to construct a small LNG plant near the Baltic Sea

Gazprom is preparing the third project on gas liquefaction near the Baltic Sea. Following large Baltic LNG and low-tonnage project of Gazprom Gazenergoset, Gazprombank has announced a similar project. The bank intends to construct a LNG plant with capacity of 300 thousand tons per year by the middle of 2017. The main sales markets should become Scandinavia and bunkering.

Gazpromnbank is going to construct a low-tonnage LNG plant near the Baltic Sea, the first vice president of the bank, Ekaterina Trofimova reported to  Kommersant. The plant’s capacity will make up 300 thousand tons per year with possibility to be extended, investments will be $300 million, its launch is scheduled for the second quarter of 2017. “The building site hasn’t been chosen yet, we are considering several possible variants next to St. Petersburg,” – Trofimova said. The main contractor will be Gazprombank’s subsidiary Kriogaz. This company has experience of low-tonnage LNG plants construction, although much smaller plants – with capacity of 10 thousand tons in Kingisepp (was launched in 2008) and of 23 thousand tons in the Kaliningrad region (was launched in 2013, belongs to Gaz-oil). A part of LNG from the Kaliningrad plant is supplied to Poland.