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Russia should improve competitiveness of LNG projects to reach new markets — Shell

March 07, 18:55 UTC+3 MOSCOW

Russia will have great opportunities to enter new LNG markets, the head of Shell Russia believes

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MOSCOW, March 7. /TASS/. Russia will have great opportunities to enter new LNG markets if its projects are able to compete with their counterpart ones in the United States and other countries, President and Country Chair of Shell Russia Olivier Lazare told reporters on Tuesday.

"Russian projects must be capable of competing with North American projects in order to get new LNG markets. It means they should have a competitive price of feedstock gas, low capital expenditures and optimal tax solutions. We are confident these conditions can be met in Russia and therefore develop two projects with our partner Gazprom - Baltic LNG and Sakhalin-2," Lazare said.

Potential LNG projects in the United States are estimated at 200 mln tonnes of LNG per year, "while these volumes are much smaller in Russia," he said. "There is a great opportunity for Russia to acquire new gas markets with use of LNG. Shell in cooperation with Russian partners is ready to contribute to Russia’s turning into one of global LNG leaders," Lazar added.

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