Shell Buys Gazprom's First LNG to the US

Gazprom Marketing & Trading Ltd, a marketing company of Russian gas giant Gazprom, and Shell Western LNG BV announced the first shipment of Gazprom-owned LNG into the US market. This LNG cargo will enter the US market through the Cove Point LNG import terminal, where Shell NA LNG LLC owns 1/3 of the regasification capacity.

The Gazprom cargo will be purchased by Shell and marketed by Shell's North American Trading organization Coral Energy Holding, L.P. The arrival of this LNG cargo marks a historic first step in Gazprom's presence in both the US market and the global LNG industry, and further strengthens the growing global cooperation between Gazprom and Shell.

"Today's event starts a new era in Gazprom's foreign economic activity. It will go down the pages of history as the beginning of Gazprom LNG sales to the US market. In the near future these sales will be made on a regular basis and, after Gazprom starts its own LNG projects, these sales will be based on the LNG produced in Russia," said Alexander Medvedev, Deputy Chairman of Gazprom Management Board, CEO of Gazexport.

Linda Cook, Executive Director Shell Gas & Power commented: "We are extremely pleased to partner with Gazprom in the delivery of their first cargo of LNG to the United States. This deal marks another milestone in the strengthening relationship between Gazprom, the world's largest natural gas company and Shell, the global leader in LNG. It is also evidence of Shell's continued efforts to strengthen security and diversity of supply to the US, the world's largest natural gas market."

In light of Gazprom's goal to be a major provider of LNG in the US and global LNG markets, and Shell's global leadership in LNG, both companies are keen to build on this successful cooperation. They will continue to actively pursue additional opportunities in order to provide LNG that helps meet growing demand in the US and other major energy markets worldwide.

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Facility Engineer
Expertise: Facilities Engineer
Location: North Dakota, ND
Lease Operator
Expertise: Gas Plant Operations|Production Operator|Production Technologist
Location: Pecos, TX
Lease Operator
Expertise: Gas Plant Operations|Production Operator|Production Technologist
Location: Three Rivers, TX
search for more jobs

Brent Crude Oil : $50.79/BBL 1.30%
Light Crude Oil : $49.96/BBL 1.10%
Natural Gas : $2.77/MMBtu 2.12%
Updated in last 24 hours