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Gazprom signs memorandum with Shell on Baltic LNG marketing model

The Baltic LNG project is discussed within the framework of global partnership between Gazprom and Shell

© Piotr Tsyrendorzhiev/TASS

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ST. PETERSBURG, October 5. /TASS/. Gazprom signed a memorandum with Shell on the marketing model for the Baltic LNG project, Deputy Chief Executive Officer of the Russian gas holding Alexander Medvedev said on Wednesday at the St. Petersburg international gas forum.

"The memorandum with Shell on the marketing model was signed yesterday for the Baltic LNG," Medvedev said.

Natural gas volumes for the Nord Stream 2 were allocated, Medvedev said.

The Baltic LNG project is discussed within the framework of global partnership between Gazprom and Shell. The project contemplates construction of a liquefied natural gas (LNG) plant in the area of Ust-Luga seaport on the Baltic Sea with the capacity of 10 mln tonnes per year and the expansion option up to 15 mln tonnes yearly. The plant is scheduled for commissioning in December 2021.

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