Gazprom, OMV team up on small-scale LNG project

Russian giant Gazprom signed a framework agreement with Austria’s OMV to collaborate in the small-scale LNG sector. 

The parties intend to cooperate in a joint integrated project for a small-scale LNG production terminal in the area of the Russian Black Sea coast, the transportation, marketing and sales of the LNG production, according to a joint statement.

In addition to the small-scale LNG cooperation agreement, the two companies signed a memorandum of understanding outlining the principles of a potential cooperation between Gazprom and OMV in coordinating activities for the development of the gas transmission infrastructure required for providing natural gas supplies to Central and Southeastern Europe.

The two companies are already cooperating on gas production, transportation and supply. In 2016, Gazprom exported to Austria 6.1 billion cubic meters of gas, 38 percent up on the volumes exported in 2015.