Gazprom has announced its rejection of Baltic LNG project which stipulated construction of an LNG plant in the Leningrad region as it considered the project to be economically inefficient. Gazprom decided to focus on other projects related to production and transportation of natural gas while it may result in loss of considerable volumes of LNG export for the company’s partner Sovcomflot as well as in absence of LNG transshipment facilities in the North-West region