LNG

Jan 17 (LNGJ) - Gazprom, the Russian natural gas giant and LNG producer and developer, said quarterly profits doubled because of foreign exchange gains. The company, which is the largest pipeline exporter to Western Europe and owns the Sakhalin LNG plant, said quarterly net profits surged to the equivalent of $10 billion (305 billion roubles). Gazprom is also involved in developing LNG projects in the Arctic region of Northern Russia, where estimated reserves are much larger than current supplies sent to the rest of Europe by pipeline.