Gazprom and Mitsui and Co have signed a memorandum of understanding (MOU) on the Baltic LNG project.
This agreement includes the building an LNG plant in the Baltic.
The MOU was signed during a meeting between Gazpom CEO, Alexei Miller and Mitsui Chairman, Masami Iijima, during the Eastern Economic Forum held in Vladivostok.
The 10 mill tonnes per year LNG project at Ust-Luga is being led by Gazprom and Shell and is planned for a 2023 launch. The companies have a heads of agreement (HOA) in place for a joint venture, as well as agreements on feasibility studies for the project and on the use Russian technical standards in its implementation.
The consortium plans to expand the nameplate capacity of 9.6 mill tonnes per year by adding a third 5.4 mill tonnes per year train in 2023-202, along with co-operation on small and mid-scale LNG projects.
