Gazprom and NOVATEK looking for new foreign partners

Gazprom and NOVATEK are not looking for technological partners for the production of LNG in Russia. Now they are trying to arrange participation in the projects by large consumers. This will provide the plant with long-term sales even if overproduction occurs at the world LNG market.

Yesterday deputy Chairman of Gazprom, Vitaly Markelov announced that the concern is ready to give up to 49% in Vladivostok LNG to foreign companies which will contract at least 6 million tons of LNG produced by the plant. The point is in the long-term contracts tied up to oil. The first line of the plant (5 million tons of LNG per year) will be launched by 2018, the second (the same volume) – by 2020. The plant cost amounts to 220 billion RUR. As stated  by Markelov, there can be several partners with the total share of 49%.

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