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GAZPROM

September 2, 2005

Gazprom delivers first LNG tanker to USA

Today, the Cove Point regasification terminal (Maryland, USA) has hosted celebrations dedicated to the arrival of the first tanker with Gazprom’s LNG to the USA.

Russian LNG was delivered to the USA based on contracts with British Gas Group and Shell Western BV. Under these contracts, LNG was purchased from British Gas Group and sold to Shell Western BV for marketing in the US.

“Today, Gazprom has first run up the Russian Federation flag in the US LNG market. We’ve come here with serious and long-term intentions. A contractual base available allows Gazprom both to have access to LNG and effect its deliveries to North America over a short- and long-term. We’re facing a strategic challenge of directly supplying Russian LNG under long-term contracts.

Cooperation between Gazprom and its counterparts makes the inter-continental energy dialogue a reality, enhances the reliability of energy supplies worldwide and opens new horizons for the mutually beneficial integration of the Russian and US energy sectors,” – stated Alexander Medvedev, Deputy Chairman of Gazprom’s Management Committee and Director General of Gazexport.

Reference:

A British Gas Corporation wholly owned subsidiary, BG Group runs business through more than 20 locations worldwide. The company is engaged in oil, gas and power production and transportation, marketing survey and LNG supplies to end users. BG Group’s 2004 turnover exceeded GBP 4 bln.

A Shell Concern subsidiary, Shell Western BV deals with hydrocarbon extraction, processing and transmission to end customers.

Over 2004, Shell produced 3.8 mboe/d. As of 31 December 2004, the Group’s proved reserves and net profit accounted for 10,231 mboe and US $18.5 bln, respectively.

Over 2006 through 2009, Gazprom’s LNG supplies are projected in the form of short- and mid-term contracts with US companies. Direct long-term deliveries of Russian LNG to the USA are due after 2010.

US energy companies are showing big interest in cooperation with Gazprom in Russian gas supplies to the USA. Until now, Gazprom has so far managed to seal memorandums of understanding with ChevronTexaco, ConocoPhillips, ExxonMobil and Sempra Energy. Said memorandums stipulate the study of Gazprom’s potential involvement in LNG regasification in North America, gas supplies & marketing in the USA and swap transactions with the use of US pipelines as well as joint participation in LNG projects in Russia. In addition to US companies, Gazprom has signed similar memorandums with Statoil, Hydro, Petro-Canada, Shell and Total.

The United States of America is one of the most promising global LNG markets. Starting 2002, LNG imports to the USA were on a more than two-fold rise to some 18 bcm, as of 2004. Under the US Energy Department’s Energy Information Administration’s forecasts, said parameter might grow several times by 2010. Moreover, the domestic gas production rates will be insufficient for the country’s needs, causing a substantial increase in gas imports.

As of today, the USA counts on 4 LNG-reception terminals with the total capacity of some 45.8 bcm/y. In addition, the country intends to construct another 10 LNG terminals on the US Eastern and Western Coasts, having roughly 140 bcm/y of potential overall capacity.

DIVISION OF RELATIONS WITH MASS MEDIA

 

 

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