New Vladivostok LNG Terminal Project on Track

At a recent meeting of Gazprom's Management Committee, Chairman Alexey Miller noted that the project was progressing rapidly and on schedule – the first train of an LNG plant will be commissioned in 2018.

Gazprom explains that it aims to speed up new LNG projects in order to increase their share in the global gas market. Vladivostok-LNG is one of such projects.

A special purpose company – Gazprom LNG Vladivostok – has been set up to implement the project. Gazprom expects to receive an environmental approval next autumn, and a positive feedback from the Russian State Expert Evaluation Department – by the year end. Project investigation works are underway on the Lomonosov Peninsula (Portovaya Bay) – the proposed location of the LNG plant and surrounding infrastructure.

Gazprom say that the meeting focused on defining future partners for joint implementation of the Vladivostok-LNG project. Several big international companies have already expressed an interest in the project, and  experts have already viewed some parts of the Investment Rationale. In addition, some potential LNG buyers, including Japanese companies have shown their interest in the project.