Gazprom to Sell Around 6 Mn Tonnes of LNG in 2020, Boost Volumes Starting 2021

Russia’s top gas producer Gazprom plans to sell around 6 mln tonnes of liquified natural gas in 2020 and boost volumes starting 2021 due to commissioning of new projects, Deputy Chairman of Gazprom Management Committee, Chief Executive Officer of Gazprom Export Elena Burmistrova said in an interview with a corporate magazine, TASS reported.

“We are actively expanding our LNG portfolio and managed to almost double it in the past several years. Particularly, we plan to sell around 6 mln tonnes of LNG by the end of 2020,” she said.

Starting 2021, the holding expects additional sales volumes due to the planned commissioning of an LNG complex in the area of the Portovaya compressor station, Burmistrova added. Its capacity is 1.5 mln tonnes of LNG per year.

“In the future large volumes of LNG will be produced under an integrated project on refining and liquefaction of natural gas in Ust-Luga. The planned capacity of the plant is 13 mln tonnes of LNG per year, which is why sales of its products will bring our trade to a brand-new level,” she noted.

Asia remains the driver of LNG demand growth globally, with formation and development of new regional and niche consumption centers persisting amid ongoing globalization of the markets.

“Today the main part of purchasers under our supplies portfolio are in Asian-Pacific countries. Moreover, we are also involved in the gradual strengthening of our positions in the work with traditional and new consumers in Southeast Asian, African and Middle Eastern countries, as well as with niche clients, for example, in the bunkering segment. Here the regions of the Baltic, North and Mediterranean seas are of interest,” Burmistrova explained.