13 Mar 2018 17:45

Gazprom, OMV postpone low-tonnage LNG project on Black Sea by one year

LONDON. March 13 (Interfax) - Gazprom and Austrian oil company OMV have postponed a low-tonnage liquefied natural gas project on the Black Sea by one year.

OMV's Executive Director for Downstream Manfred Leitner said in a conversation with journalists that the company should have started a feasibility study, but "agreed to do nothing." The agreement on cooperation in low-tonnage LNG in the Black Sea region was signed in June 2017.

Responding to a question on the reasons behind the decision Leitner said: "Ask Gazprom."

He also did not say when the decision was made.

As follows from the contract between Gazprom and OMV signed in the summer of 2017, "the parties intend to cooperate in the implementation of a joint comprehensive project of construction in the region of the Russian Black Sea coast of a terminal for production, transport, marketing and sale of low-tonnage LNG."