The main reason why Gazprom keeps to its plan to produce liquefied natural gas (LNG) from the Shtokman-field in the Barents Sea is because Russia considers it important to be able to shift its gas flows depending on market situations, according to Yuri Kamarov quoted by Bloomberg.
Gas sent via pipelines is difficult to redirect, while a tanker with LNG in principle can be sent anywhere in the world, with a destination agreement made when the tanker leaves the LNG-plant port.
On February 5th, the board of directors in the Shtokman Development AG decided to postpone the huge Barents Sea gas field with three years, as reported by BarentsObserver. It was said that the investment decision on the LNG part will be taken before the end of 2011, with earliest possible LNG production at the Teriberka site on the coast of the Kola Peninsula in 2017.
Read also: Gazprom might abandon Shtokman
This week’s Arkhangelsk conference is organized by Sozvezdie, the association of oil-and-gas suppliers in the Arkhangelsk region. Speaking at the conference, Yuri Kamarov said Gazprom and its partners Total and Statoil could redirect some LNG to Europe until the US market change again.
- Some LNG volums can go to the European market, first of all, the United Kingdom, Italy and France, Kamarov said according to Bloomberg.
