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2008 May 16   13:30

Gazprom inks memo to supply Canada’s Rabaska terminal

Russian natural gas monopoly Gazprom has signed a deal to supply a proposed liquefied natural gas terminal in Canada, marking the company's first major step into the North American gas market, Prime-Tass reports.

Gazprom Marketing & Trading USA, Gazprom's North American subsidiary, signed a memorandum of understanding Thursday to supply liquefied natural gas (LNG) to the Rabaska consortium's regasification terminal on the St. Lawrence River at Levis, Quebec, Gazprom Deputy CEO Alexander Medvedev said at a news conference Thursday.

The memorandum was signed with the participants of the Rabaska LNG project - Canada’s largest energy producer Gaz Metro, Canada’s largest pipeline corporation Enbridge and French natural gas utility Gaz de France.

The Gazprom unit will supply the terminal from the giant Shtokman field in the Barents Sea. The terminal is expected to come into service in 2014, when Gazprom plans to have started LNG production from Shtokman.

The Rabaska terminal is expected to store and regasify up to 500 million cubic feet of LNG per day.

A final agreement on LNG supply is expected to be concluded by the end of this year, Medvedev said.

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