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Russia works for foothold on LNG market
Publish date: April 10, 2006
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Russia works for foothold on LNG market
Russian gas monopolist Gazprom intends to join forces with the key players on the market of liquefied natural gas (LNG) for operations on the North American LNG market and open an office in Houston, Texas.
Gazprom intends to participate in all stages of this work, from the production of natural gas to its liquefaction and transportation and regasification. Gazprom also plans to win 10% of the United States’ gas market by 2010 and subsequently to double its share. Today Gazprom depends to a large extent on the existence of pipelines and on the relations with the transit countries.
Until recently, Russia relied on stable gas deliveries to Europe, postponing the creation of LNG production facilities and the choice of new routes for the delivery of gas. This has endangered Gazprom’s monopoly in Europe and is hindering its expansion in Asia and North America, RIA Novosti reported.
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