Gazprom aims to boost LNG market share

Russian gas giant Gazprom said Tuesday that its board approved an updated list of measures aimed at increasing the company’s share in the global gas and LNG markets. 

The updated list suggests “more precise definition of Gazprom’s business areas“, particularly in pipeline and liquefied natural gas supply as well as in creating and developing new gas market segments, Gazprom said in a statement.

According to the statement, a key element in the Gazprom’s geographic presence expansion is the reinforcement of the company’s position in the Asian market.

“The growth in LNG supply plays a crucial role in gaining a bigger market share. It is therefore essential to ensure and improve the Gazprom’s global LNG portfolio flexibility primarily through the company’s own production,” Gazprom said.

The large-scale LNG production is complemented by the expanding geographic presence and the increasing small-scale LNG production, state-owned Gazprom said.

As part of the above-mentioned measures, Gazprom said it would optimize the costs of projects and would consider various project participation options, including joint ventures and asset swaps.

LNG World News Staff