Gazprom, Shell extend LNG ties

Gazprom and Shell have extended their heads of the joint venture agreement regarding the liquefied natural gas (LNG) cooperation. 

During a meeting in St. Petersburg, the heads of the Russian giant Gazprom, Alexey Miller and the CEO of the Hague-based LNG giant Shell, Ben van Beurden agreed to prioritize the use of Russian technical standards when designing and preparing specifications for equipment for the LNG industry development in Russia.

The Agreement also sets out the key operating aspects of the future joint venture, including occupational safety, industrial safety and social responsibility matters, Gazprom said in its statement.

The two parties also discussed the feasibility study of the Baltic LNG project that would have a 10 mtpa production capacity and will be located in the port of Ust-Luga, Leningrad Region.

The two companies are also cooperating on the Sakhalin II project, which includes Russia’s first LNG plant, and are cooperating on the development of a third liquefaction train at the facility.

The two companies also focused their discussions on the Nord Stream 2 project.