Gazprom and Shell continue the work on an implementation of Baltic LNG, a project of natural gas liquefaction plant in the Leningrad region, Gazprom Export reported on August 10, 2017.
Following the Heads of Agreement to set up a joint venture and the Joint Study Framework Agreement on the Baltic LNG project that had been signed in July 2017, Gazprom LNG St.Petersburg and Shell Gas & Power Developments B.V. on August, 8th in St. Petersburg have signed a contract on a feasibility study of the project.
As part of the study the companies will also scrutinize the principles of harmonization of Russian and international LNG standards, and analyze possible measures to maximize participation of Russian suppliers in the project.
Special attention will be paid to labor and industrial safety and social responsibility.
On the basis of the study main technical solutions for Baltic LNG project will be appraised and chosen, and concept schedule and plan of project implementation will be worked out.
The Baltic LNG plant will be built near the seaport of Ust-Luga. Its annual capacity will amount to 10 million tons , its expected to cost about $18.5 billion
To deliver the project, it is planned to apply state-of-the art technologies and latest developments (primarily Russian ones) that minimize environmental impacts.