Results of Gazproms delegation's visit to the USA
Gazprom's delegation is concluding its visit to the USA, made on the invitation of US Commerce Secretary Donald Evans. In the course of the visit, Alexey Miller, Gazprom's Management Committee Chairman held meetings with Donald Evans, Secretary of the US Commerce Department and top executives of US energy businesses.
Donald Evans confirmed the US Administration's intentions to fully contribute to promoting business relationships between Gazprom and US energy companies. Mr. Evans underscored that the US Commerce Department was interested in Gazprom's appearance on the US gas market as liquefied natural gas (LNG) supplier.
Alexey Miller, on his part, informed Donald Evans of the progress in Gazprom and its US counterparts' joint activities in developing a project on gas deliveries to the USA to be largely supplied from the Shtokmanovskoye gas condensate field.
On 22 September, Alexey Miller and David O'Reilly, Chairman of the Board and CEO of ChevronTexaco Corporation signed in Washington DC a Memorandum of Understanding. In particular, the Document stipulates 6-month-long survey studies to be conducted with the view of potentially implementing joint oil and gas projects in the USA and Russia.
On 23 September, New York City hosted Alexey Miller's meetings with Rex Tillerson, President of ExxonMobil Corporation, Jim Mulva, President and CEO of ConocoPhillips and Ron Brenneman, President and CEO of Petro-Canada.
The parties addressed issues of cooperation in LNG production technologies and its potential supplies to the US gas market. Special emphasis was laid on Russian gas marketing over the USA.
The USA is the world's largest natural gas consumer. In 2002, the country's domestic gas consumption and extraction accounted for 667.5 bcm (or 26.3% of overall worldwide gas consumption) and 548 bcm, respectively.
At the same time, the USA is one of the most promising global LNG markets. At present, the country is importing some 6.5 bcm of LNG to be reportedly increased to 104 bcm by 2020, primarily, due to gas consumption growth in the power generation sector. The US sustainable economic expansion is likely to boost gas demand in the residential, commercial and industrial sectors, as well.
As of today, the USA counts on 4 LNG-reception terminals with the total capacity of some 23.5 bcm/y. The country intends to construct another 10 LNG terminals on the US Eastern and Western Coasts, having over 75.5 bcm/y in overall capacity.
Information Directorate, OAO Gazprom