Gazprom says launch of Baltic LNG might be postponed to 2022
MOSCOW. Nov 8 (Interfax) - Gazprom has acknowledged that there might be another delay in the launch of Baltic LNG, the liquefied natural gas plant that it plans to build at the Ust-Luga Port in Leningrad Region with Royal Dutch Shell, the memorandum for a new Eurobond offering from the Russian gas giant shows.
At the beginning of this year, Gazprom pushed back the anticipated launch of the project to 2021 from 2020. Now there might be a new postponement.
"We expect to launch the Baltic LNG plant in 2021-2022," Gazprom said in the memorandum.
Gazprom has completed the pre-investment studies for the project. The plant will have capacity to produce 10 million-15 million tonnes of LNG that will be targeted at countries on the Atlantic and the small-scale LNG market in the Baltic nations and northern seas, as well as the Middle East and South Asia. The latter two were mentioned for the first time. The plant is expected to be built on project financing terms.
