Alexey Miller, Chairman of the Gazprom Management Committee and Alexander Drozdenko, Governor of the Leningrad Region signed today a Memorandum of Understanding and Cooperation with regard to a liquefied natural gas (LNG) plant project. The signing ceremony took place in the presence of Russian President Vladimir Putin as part of the St. Petersburg International Economic Forum 2013.

Under the Memorandum, the parties will use their best endeavors to prepare and implement the LNG plant project to be deployed on the coast of the Gulf of Finland.

The Leningrad Region Government will inter alia ensure that necessary approvals are granted by authorized regulatory bodies and local authorities, relevant permits are issued and Gazprom's ownership rights to constructed facilities and purchased lands are registered.

“Gazprom has taken the decision to launch a fundamentally new and ambitious project – the construction of an LNG plant in the Leningrad Region. I mean the project that we announced recently. The plant capacity will be 10 million tons per year. Today we have started developing an Investment Rationale and selecting a construction site,” said Alexey Miller.