Baltic LNG Terminal

From Global Energy Monitor
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Baltic LNG Terminal is a proposed LNG export terminal in St. Petersburg Oblast, Russia.

Location

The map below shows the location of the project, in Ust-Luga Port, Kingiseppsky District, St. Petersburg Oblast.

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Background

Baltic LNG Terminal is a proposed liquefied natural gas (LNG) liquefaction terminal in St. Petersburg Oblast, Russia.[1][2] In June 2017, Gazprom and Shell set up a joint venture to pursue the project.[3] The project would go online in 2022-23.[4]

In December 2018 Gazprom and Itochu signed a memorandum of understanding (MOU) to jointly pursue the project.[5] In April 2019 Shell announced that it was withdrawing from the project.[6] Shell's departure was due to Gazprom integrating the Baltic LNG project and gas processing plants and its setting up of the special purpose vehicle RusKhimAlyans, a 50-50 joint venture with its Russian partner RusGazDobycha, which is said to have links to an ally of Russian President Vladimir Putin.[7]

Financing

In August 2020, the Russian state-owned development bank VEB said it was providing Gazprom with a US$741 million loan for the project.[7] The overall project costs are said to be at least US$12 billion.[8]

Project Details

  • Owner: RusKhimAlyans[7]
  • Parent: Gazprom (50%), RusGazDobycha (50%)[8]
  • Location: Ust-Luga Port, Kingiseppsky District, St. Petersburg Oblast, Russia
  • Coordinates: 59.72087, 28.43132 (exact)
  • Capacity: 10 mtpa, 1.43 bcfd
  • Status: Proposed
  • Type: Export
  • Start Year: 2025[9]
  • Financing: US$741 million loan from VEB[7]

Note: mtpa = million tonnes per year; bcfd = billion cubic feet per day

Articles and resources

References

  1. Baltic LNG Terminal, Wikipedia, accessed April 2017.
  2. Baltic LNG, Gazprom website, accessed July 2017.
  3. Gazprom, Shell ink Baltic LNG deals, LNG World News, 5 June 2017.
  4. Report: Gazprom delays Baltic LNG start, LNG World News, 10 Mar. 2017.
  5. Gazprom and Itochu sign Memorandum of Understanding on Baltic LNG project, World Oil, Dec. 14, 2018
  6. Shell exits Gazprom-led LNG project in Russia, Reuters, Apr. 10, 2019
  7. 7.0 7.1 7.2 7.3 Russian bank VEB to provide $741 mln loan for Gazprom's new LNG project, Reuters, Aug. 24, 2020
  8. 8.0 8.1 Gazprom receives a US$739m loan from VEB for its Baltic LNG project (Russia), Enerdata, Aug. 25, 2020
  9. Viktor Katona, Is Gazprom’s LNG Megaproject Doomed To Fail?, Oil Price, Apr. 4, 2020

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External resources

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