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Shell Secure New Supplies Form Gazprom

The new supply was agreed in a deal between Gazprom and Shell

The deal between Gazprom and Shell on new supply was signed on Wednesday in Moscow by Gazprom chairman Alexei Miller and Shell CEO Jeroen Van der Veer.

In result, the volumes delivered to Europe will be equivalent to those covered in an LNG deal under which Shell Eastern Trading and Gazprom Global LNG will buy LNG from the Sakhalin Energy Investment Company. Deliveries to Gazprom and Shell from Sakhalin, offshore east Russia, begin in 2009 and will last until 2028, totaling 1 million mt/year each to Gazprom and Shell at plateau.

Gazprom affiliates, under long-term assignment from Shell, will also take capacity in Sempra's Energia Costa Azul LNG import terminal in Baja California, Mexico, and pipeline capacity to enable gas to be transported to southern California.

Author: Ksenia Kochneva

Source : Platts