The Gazprom Management Committee has convened on its regular meeting.

The Management Committee considered the Baltic LNG project execution as inexpedient.

“The all-embracing detailed analysis of the Baltic LNG project has shown that the Nord Stream pipeline construction and the Shtokman field development involving potential LNG production are more competitive projects. The decision was taken in this context to concentrate the Company’s major resources on the execution of these higher-priority projects,” said Alexey Miller at the Management Committee meeting.

Reference:

The Baltic LNG project stipulated constructing an LNG plant in the Leningrad Oblast. The Baltic Liquefied Gas Company (80 per cent – Gazprom Germania, 20 per cent – Sovcomflot) was set up with the aim of executing the said project.