Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Gazprom to build LNG facility in Russia''s far east  Join our daily free Newsletter

MENAFN - Kuwait News Agency (KUNA) - 23/02/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Kuwait News Agency (KUNA)) Russia's state-run Gazprom, the world's largest gas producer, decided to build a plant for liquefied natural gas (LNG) near the city of Vladivostok, far east of the country, with a hope that it would start operations in 2018 in order to boost shipment to Asia.

After examining the basic plan as well as the profitability of the plant, the Russian gas monopoly concluded on Thursday that the project in the city of Vladivostok is feasible, the Nikkei Shimbun said. Gazprom also plans to set up a company by the end of next fiscal year for building the plant, the newspaper said.

The plant is expected to produce a maximum of 150 million metric tons of LNG per year. Last September, Gazprom and the Japanese government signed a memorandum of understanding to cooperate on the early construction of the plant.

Gazprom has already agreed in principle to build the plant in Vladivostok jointly with Japanese partners, including Itochu Corp. and Japan Petroleum Exploration Co. The decision is seen as Gazprom's indication that it would like to execute an official agreement on joint construction with these partners, the report added.

Japan is the world's No. 1 LNG importer, taking in a record 87.3 million tons in 2012. Following the nuclear accident at the Fukushima Daiichi power plant in March 2011, demand for LNG from Japanese utilities for thermal power generation has surged.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help