26-03-08

Russia is en route to a new stage of technological development of the gas industry -- creation of the world biggest centre for production and supplies of liquefied natural gas (LNG). The investments could reach $ 15 bn by 2015.
If Gazprom's Board of Directors (BoD) approves the aggressive scenario for LNG, its production will exceed 50 mm tons in 2030.

Gazprom’s BoD will deliberate on five issues shelved in February due to the need to put forward the candidates to the company’s BoD and because of the presidential campaign of BoD Chairman Dmitry Medvedev. The highlight is the strategy for LNG production and supplies till 2030. The directors are expected to OK one of three scenarios for LNG -- the conservative, moderate or aggressive one. If the aggressive scenario is finally approved as the basic variant, the LNG centre will emerge in the country.
“The investments in LNG production facilities in Russia could reach $ 15 bn till 2015,” a top manager of Gazprom said.

The BoD will also focus on the progress in concluding long-term contracts for domestic gas supplies in 2008 through 2012, as well as on the exchange trading in gas, the strategy of gas and chemical development and of gas processing development and on the establishment of the venture fund for innovation technology. When choosing the scenario, the directors will be governed by forecasted growth in LNG prices up to 2015 and till 2030. The aggressive scenario provides for creating a liquefied gas centre comparable to the world biggest [centre] -- the Qatar one.
“The main thing today is to determine where to set up this new Qatar,” Gazprom's manager said.

Source: www.kommersant.com