Gazprom sets out long-term supply strategy
The Gazprom board of directors has approved the company’s strategy aimed at diversifying its export routes and increasing the Russian gas competitiveness
It was noted that gas supply alternatives as well as enhanced reliability and safety of supplies were of primary importance to make Gazprom’s products attractive for international markets over a long term.
With a view to provide stable and well-balanced supplies of Russian gas to Europe as well as to mitigate the risks related to gas transit via third countries, Gazprom is looking to expand its existing gas transmission routes and to build up new ones.
A project for constructing a new gas pipeline with a capacity of 63 billion cubic meters from Russia to Turkey has entered the execution stage. The gas transmission route will be laid via the Black Sea and will annually supply up to 47 billion cubic metres of gas to the Turkish-Greece border. The gas pipeline will represent the alternative export route, which, in combination with Nord Stream, Blue Stream and the Yamal-Europe gas pipeline, will secure the whole Russian gas exports beyond the CIS and will make it possible to abandon the transit corridor via Ukraine.
Gazprom is also focused on supplying significant volumes of Russian pipeline gas to Asia-Pacific.
Work is underway to have the resource and transmission base in place for the start of gas supplies from Russia to China via the eastern route. The agreement on Russian gas purchase and sales via the western route is being formulated.
Gazprom continues to reinforce its positions in the LNG trade and transportation segments, in addition to gas pipeline projects. Gazprom sold 4.5 billion cubic metres of liquefied natural gas in 2014, thereby having surpassed the 2013 result (2.0 billion cubic meters) more than twofold.
The company is keen to promote Gazprom’s LNG in niche and emerging markets of Asia-Pacific.
The company intends to build up its presence in new markets primarily by the way of increasing its own production activity. Gazprom plans to construct LNG plants with a capacity of 10 million tons a year in the Leningrad Region and the Primorye Territory. The company is also considering constructing a new process train within the Sakhalin II project.
- Oil 7 Gas Technology
- Published on:
- February 26, 2015
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