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Kremlin declines to comment on Shell’s withdrawal from Baltic LNG project.

On April 10, Shell announced its intention to withdraw from the Baltic LNG, joint project with Gazprom after the Russian gas holding decided to change the concept of the project’s development

MOSCOW, April 11. /TASS/. Kremlin spokesman Dmitry Peskov declined to comment on the situation around Shell’s withdrawal from the Baltic LNG project with Gazprom.

"This is a corporate topic, so you need to contact Gazprom. It would be incorrect for the Kremlin to comment on this," he told reporters.

On April 10, Shell announced its intention to withdraw from the Baltic LNG, its joint project with Gazprom after the Russian gas holding decided to change the concept of the project’s development.

In 2015, Shell became the only partner of Gazprom in the Baltic LNG project. In late 2018, Gazprom and Shell inked a framework agreement on the technical concept of the Baltic LNG.

Shell initially estimated the plant’s capacity at 10 mln tonnes of liquefied natural gas per year, with a possible subsequent increase in capacity to 13 mln tonnes.

In March of 2019, Gazprom changed the concept of the project, which now provides for the full integration of the Baltic LNG and the gas processing plant. The RusGasDobycha company was announced as the only partner of Gazprom in the project, while Shell’s participation was not mentioned.

The Baltic LNG is the plant to be located in the area of Ust-Luga seaport on the Baltic Sea. Countries of the Atlantic region, Middle East, South Asia and small-capacity LNG markets in Baltic and North Seas regions are viewed as target markets for LNG produced at the plant.