Gazprom approves Vladivostok LNG plant construction

Source:Gazprom

Alexey Miller, Chairman of the Gazprom Management Committee held a meeting today at the Company's headquarters regarding the Vladivostok-LNG project.

The meeting participants discussed, in particular, creation of a resource base for the LNG plant near Vladivostok over a long-term period. Special attention was also paid to the information on the potential capacity of the Asia-Pacific markets for Russian liquefied natural gas sales.

Based on the meeting results the approval was given to the Action Plan for the LNG plant construction project and the Work Plan for establishing the project's resource base.

Background
In February 2013 the Vladivostok-LNG project entered the investment stage – the Management Committee approved the Investment Rationale for the LNG plant construction near Vladivostok.

The project envisages building an LNG plant on the Lomonosov Peninsula (Perevoznaya Bay). The plant will have three process trains with the annual capacity of 5 million tons of LNG each. The first process train will be put onstream in 2018. Gas from the Sakhalin gas production center as well as the Yakutia and Irkutsk centers will serve as the resource base. The target markets are represented by the Asia-Pacific countries.

The approval was given to the Action Plan for the LNG plant construction project and the Work Plan for establishing the project's resource base.

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