Quartet to form Russian-based LNG tech manufacturer

A group of companies on Friday signed an agreement of intent to establish a Russian-based manufacturer of natural gas liquefaction equipment. 

According to a statement by the Gazprom of Russia, one of the four companies, the group will prepare a feasibility study and a business plan to identify the most efficient form of partnership, including a possible joint venture, by the end of 2016.

Other signatories of the agreement are Linde, Power Machines, and Salavatneftemash, the statement reveals.

The feasibility study and business plan will take into account the technological demand for and the competitiveness of such equipment in Russia, the statement reads.

The group plans to manufacture equipment for facilities employing technologies for natural gas liquefaction and processing while using the Russian-produced equipment in the manufacturing process.

LNG World News Staff