Baltic LNG Terminal

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Baltic LNG Terminal is an under construction 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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Project Details

Project Details, Train 1

  • Owner: RusKhimAlyans[1]
  • Parent: Gazprom, RusGazDobycha (a subsidiary of the National Gas Group)[2]
  • Location: Ust-Luga Port, Kingiseppsky District, St. Petersburg Oblast, Russia
  • Coordinates: 59.72087, 28.43132 (exact)
  • Type: Export[2]
  • Capacity: 6.5 mtpa[2]
  • Status: Construction[3]
  • Start Year: 2024[3]
  • Financing: US$741 million loan from VEB[1]

Project Details, Train 2

  • Owner: RusKhimAlyans[1]
  • Parent: Gazprom, RusGazDobycha (a subsidiary of the National Gas Group)[2]
  • Location: Ust-Luga Port, Kingiseppsky District, St. Petersburg Oblast, Russia
  • Coordinates: 59.72087, 28.43132 (exact)
  • Type: Export[2]
  • Capacity: 6.5 mtpa[2]
  • Status: Construction[3]
  • Start Year: 2025[3]
  • Financing: US$741 million loan from VEB[1]

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

Background

Baltic LNG Terminal is a proposed liquefied natural gas (LNG) liquefaction terminal in St. Petersburg Oblast, Russia.[4][5] In June 2017, Gazprom and Shell set up a joint venture to pursue the project.[6] The project would go online in 2022-23.[7]

In December 2018 Gazprom and Itochu signed a memorandum of understanding (MOU) to jointly pursue the project.[8] In April 2019 Shell announced that it was withdrawing from the project.[9] 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.[1]

In May 2021, Gazprom announced that it had commenced construction on the gas complex site at the port of Ust-Luga.[3]

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.[1] The overall project costs are said to be at least US$12 billion.[10]

In March 2021, Russian business daily Kommersant reported that the project's engineering, procurement and construction (EPC) contractor NIPIGAZ had either been dismissed or had resigned. Kommersant speculated that this may have been due to the general lack of funding in place for the project, with the Russian state potentially keen to employ China National Chemical Engineering Construction Company Limited (CC7) as the EPC contractor as part of a larger deal aimed at attracting necessary additional financing from Chinese banks.[11]

Articles and resources

References

Related GEM.wiki articles

External resources

External articles