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Gazprom and Belgian Fluxys sign framework deal on small-scale LNG market in Europe

March 29, 14:28 UTC+3
The deal reflects intentions of the parties to interact in implementation of joint construction and operation projects on LNG receiving terminals, LNG refueling sites and LNG bunkering infrastructure
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© Alexandr Semenov/ITAR-TASS

MOSCOW, March 29. /TASS/. Gazprom and Belgian Fluxys signed a framework agreement on cooperation in the market of small-scale LNG facilities in Europe, the Russian gas holding said on Tuesday. The document was signed by Deputy Chief Executive Officer of Gazprom Alexander Medvedev and Chief Executive Officer of Fluxys Pascal De Buck.

"The document reflects intentions of the parties to interact in implementation of joint construction and operation projects on LNG receiving terminals, LNG refueling sites and LNG bunkering infrastructure in European nations," Gazprom said.

"The small-scale LNG is not merely a viable and environment-friendly alternative to the conventional fuel in various branches of the economy, including industry and transport. This is one of key points of natural gas consumption growth in Europe. Development of this segment makes possible for Gazprom to diversify its export potential and boost sustainable supplies of energy resources to European nations," Gazprom reported.

Prospects of production of equipment for underwater drilling in Arctic region

Gazprom plans to study prospects of production of equipment for underwater drilling in the Arctic region, according to the statement published on the government’s website of state procurements.

For this purpose Gazprom launched a tender for 23.4 mln rubles. The company wants a potential contractor to ground options of Gazprom’s participation in production of the equipment by Russian enterprises.

"The results of this work will be used by the gas, gas condensate and oil department to plan the activities for the development and creation of underwater equipment and technology for the development of deposits off the Arctic coast by Russian companies," the statement said.

The winner of the contest will analyze the current application of foreign technology for underwater drilling by Gazprom, to determine further needs of the company in equipment for the offshore oil production, as well as to define the main forms of participation of the gas giant in the implementation of investment projects for the design and manufacture of underwater equipment.

In 2011, Gazprom approved an updated program of development of hydrocarbon resources in Russia’s Arctic offshore zone until 2030. It implies application of an integrated approach, allowing the most efficient use of facilities and infrastructure when implementing offshore projects.

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