Gazprom Seeks Stronger Presence in North American LNG Market

At a meeting on Wednesday, September 30, Gazprom's board of directors discussed the company's participation in gas and energy markets of the North America and adopted a decision to strengthen the company's positions in the region, the company's statement says.

"In order to strengthen Gazprom's presence on world energy market, to diversify export routes and markets, to ensure safety and reliability of gas supplies and also in accordance with Gazprom's strategy in the field of production and supply of liquefied natural gas [LNG], the board of directors has instructed the Management Committee to organize a campaign to strengthen the company's positions on gas and power energy markets of the North America," Gazprom's press service says.

North America is a target market within the framework of Gazprom's strategy in the field of LNG production and supply approved by the board of directors in March 2008. The document envisages Gazprom's work in the sectors of gas liquefaction, sea transporting, regasification and sale the fuel to end consumers.

Gazprom group plans to deliver LNG to the North American market from two Russian projects, Sakhalin-2 and Shtokman gas field [in the Barents Sea].

At present Gazprom working on setting up client base and forming the necessary portfolio of contracted assets, including the lease of transport, regasification and gas storages facilities on the North American market.

BBC Monitoring. Copyright BBC.