Gas Processing & LNG is Produced by Gulf Publishing Holdings LLC



Putin hails energy security boost from Russia's first LNG floating storage

MOSCOW (Reuters) - President Vladimir Putin opened Russia’s first liquefied natural gas (LNG) floating storage and regasification unit (FSRU), saying it bolsters the country’s energy security.

The Marshal Vasilevskiy FSRU has been set up in Kaliningrad, wedged between European Union members Poland and Lithuania, by Russian energy giant Gazprom (GAZP.MM) to bypass pipeline gas deliveries via Lithuania in case transit is disrupted.

Moscow’s decision to set up the FSRU was in part to reduce gas transit risks to Kaliningrad, home to a Baltic Fleet base, as the EU steps up efforts to reduce its dependency on Russia, a Kremlin-published transcript of Putin’s speech said.

“In recent years we have paid much attention to energy supplies, to the energy of the region as a whole, including in connection with EU plans to remove the Baltic states from Russia’s energy ring,” Putin said.

“This is their (EU countries’) business. Additional tax payers’ money will be invested into that.”

Gazprom CEO Alexei Miller told the Interfax news agency that supplies to Kaliningrad from Lithuania had been completely halted on Tuesday and replaced with natural gas from the FSRU.

The FSRU, the first of its kind in Russia which arrived from Singapore last month with a cargo on board to commission the LNG import facility, can provide Kaliningrad with 2.7 billion cubic meters (bcm) of gas a year, Gazprom has said.

LNG is delivered by tankers, meaning it can be supplied to many markets.

Reporting by Gabrielle Tétrault-Farber; Editing by Alexander Smith


Copyright © 2018. All market data is provided by Barchart Solutions. Futures: at least a 10 minute delay. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.

                                  CMEGroup                                     Icelogo

FEATURED COLUMNS

Editorial Comment
-Adrienne Blume
As discussed in the HPI Market Data 2019 report, published in November by Gas Processing & LNG’s sister publication, Hydrocarbon Processing, rising propane and ethane supplies in the US have been enabled by greater production of shale gas.
Industry Trends: Norway targets global LNG market
-Eugene Gerden
Norway aims to become a leading player in the global LNG market during the next several years through the establishment of new, large-scale LNG terminals.
Regional Focus: Challenges of scaling up Africa’s LNG production
-Shem Oirere
Several gas projects are underway in Africa, but they continue to be constrained by inadequate infrastructure, slow finance mobilization, lack of security and uncertainty over hydrocarbon regulations that are casting doubt on the outcome of the continent’s drive to meet its anticipated 128% gas demand increase by 2040.


GasPro 2.0: A Webcast Symposium

Register Now

The global LNG industry is becoming increasingly interconnected as grassroots export projects get off the ground. Another technology route for processing gas into fuels—GTL—is attracting renewed attention due to improving economics. Small-scale solutions for both LNG and GTL are at the forefront of new technological developments, while major projects using more conventional technologies continue to start up around the world.

During this webcast, we will focus on LNG, GTL, gas processing technology developments and deployments, operations, small-scale solutions, transportation, trading, distribution, safety, regulatory affairs, business analysis and more.

October 25, 2018 08:30 AM CDT

Register Now

 

Please read our Term and Conditions, Cookies Policy, and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.
© 2019 Gulf Publishing Holdings LLC.