A working meeting between Alexey Miller, Gazpromís Management Committee Chairman and Spencer Abraham, US Energy Secretary, was held today at Gazpromís Headquarters. The parties deliberated on the issues of cooperation in liquefied natural gas (LNG) production technologies and LNG deliveries to the US energy market.
Spencer Abraham confirmed the US Governmentís interest in promoting favorable environment for business cooperation between Gazprom and US energy companies.
Alexey Miller informed Mr. Abraham of the progress in the talks and 2004 plans of joint business with US counterparts on Russian gas marketing in the USA. Concrete results are expected to be achieved until the current year-end. Alexey Miller stated that Gazprom would soon start discussing with the RF Government a production sharing agreement on the Shtokmanovskoye gas condensate field identified as a principal resource base for LNG deliveries to the USA.
The issues raised will be re-addressed on 7 June 2004, in Moscow, within a seminar on LNG matters, to be held within a meeting of the Russian-US Working Group for Energy.
The United States of America is one of the most promising LNG markets in the world. In 2003, US LNG imports grew more than 2fold to 11 million tons, from 4.8 million tons, in 2002. Under the forecast of the Energy Information Administration within the US Department of Energy, the aforementioned parameter will reach 47 million tons by 2010, leading to a considerable increase in gas imports as domestic gas production wonít meet the countryís gas needs.
As of today, the USA operates 4 LNG-reception terminals with the total capacity of some 18 million tons per annum. Another 10 new terminals are planned to be constructed on the US eastern and western coasts, with the total annual capacity reaching some 60 million tons of LNG.
DIVISION OF RELATIONS WITH MASS MEDIA