Gazprom and Shell review progress of joint projects
RELEASE
Release
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Maarten Wetselaar, Member of the Executive Committee of Royal Dutch Shell, took place in St. Petersburg today.
The parties discussed the state and prospects of strategic cooperation in the gas sector.
Particular attention was paid to joint efforts in the liquefied natural gas (LNG) segment, especially the construction of the third train of the LNG plant within the Sakhalin II project.
The parties also reviewed the status of the Baltic LNG project and further steps in the development of the Joint Venture Agreement.
Another important issue discussed at the meeting was the progress of the Nord Stream 2 project.
Background
Royal Dutch Shell is a British-Dutch oil and gas holding company focused on hydrocarbon production, processing and marketing.
Gazprom and Shell are jointly engaged in the Sakhalin II project, which includes Russia's first LNG plant.
In 2015, Gazprom and Shell signed the Memorandum to construct the third production train of the LNG plant, as well as the Agreement of Strategic Cooperation.
In 2017, Gazprom and Shell inked the Heads of Agreement to set up a joint venture for the purposes of implementing the Baltic LNG project and signed the Joint Study Framework Agreement to that effect.
The Baltic LNG project envisages the construction of an LNG plant with the annual capacity of 10 million tons in the port of Ust-Luga, Leningrad Region.
Nord Stream 2 is the construction project for a gas pipeline with the annual capacity of 55 billion cubic meters from Russia to Germany across the Baltic Sea.