Gazprom Strikes First LNG Swap Deal with BG, Shell
Aug 08, 2005 (Dow Jones Commodities News via Comtex) MOSCOW (Dow Jones)
Gazprom Marketing & Trading Ltd., the U.K.-based marketing and trading subsidiary of Russian state gas monopoly OAO Gazprom (GSPBEX.RS), said Monday it has executed agreements with Shell Western LNG BV (RDSB.LN) and BG Group PLC (BRG) for its first liquefied natural gas cargo transaction for delivery to the U.S.
The LNG, purchased from BG, will be delivered to Shell in the beginning of September at the Cove Point, Maryland, U.S. LNG receiving terminal, on an ex-ship basis, where Shell holds regasification capacity.
With this first LNG cargo delivery into the U.S., Gazprom has taken the first step towards becoming a leading LNG supply, shipping and marketing company.
Gazprom is now focusing on its goal to expand its LNG marketing and trading activities in preparation for the first availability of Russian-produced LNG in a few years time.
Gazprom Marketing & Trading also announces that John Hattenberger has joined as director of LNG.
Copyright (c) 2005 Dow Jones & Company, Inc.
- Court Rejects PGniG's Attempt To Limit Gazprom's Use Of Opal Pipeline (Oct 13)
- Russia's Gazprom Signs LNG Supply Deal With Ghana (Sep 18)
- Gazprom Says Sanctions Won't Stop Nord Stream 2 Pipeline Project (Aug 30)
Company: Shell more info
Operates 27 Offshore Rigs
- Shell Looks Beyond Road Fuels to Secure Future of Refining (Nov 06)
- API Panel Member: Voluntary Methane Program Forthcoming (Oct 06)
- Eni Bets Big on Zohr Explorer Finding New Treasure (Oct 06)
Company: BG Group more info
- Shell Mulls LNG-Hub Network as Use by Ships and Trucks Expands (Jul 11)
- Tanzania Laws Would Allow Govt to Tear Up Mining, Energy Deals (Jun 29)
- Despite Cuts, Big Oil to Expand Production into the 2020s (Sep 05)