Gazprom to revive implementation of Vladivostok LNG and Shtokmanovsky projects
Gazprom continues holding to a plan of developing the Shtokmanovskoe field and implementing the Vladivostok LNG project. According to the company’s quarter 1 report, one of Gazprom’s strategic tasks is to increase the share of liquefied natural gas (LNG) in the Group’s export portfolio... The Group’s own LNG projects are supposed to account for the bulk of LNG. Those projects include expansion of LNG production facilities on the Sakhalin, implementation of the Baltic LNG, Vladivostok LNG and Shtokmanovsky projects.
At present, the Company supplies LNG to more than ten countries – Japan, Korea, China, India, Taiwan, the UK, the USA, Kuwait, the United Arab Emirates, Mexico and others. Gazprom plans to broaden its presence in the promising markets, at first place, through increasing its own production.
The Shtokman gas and condensate field is situated in the central part of the continental shelf within the Russian sector of the Barents Sea. The field’s C1 reserves total 3.9 trillion cubic meters of gas and 56 million tons of gas condensate, with 3.8 trillion cubic meters of gas and 53.4 million tons of gas condensate contained in Gazprom’s licensed block.
The development of the Shtokman field is divided into three phases. Shtokman will produce 23.7 billion cubic meters of gas per year after the commissioning of the Phase 1 facilities.
The Vladivostok LNG project envisages the construction of the LNG plant near the city of Vladivostok. Potential sales markets are concentrated in Asia-Pacific.