Gazprom approves action plans on constructing LNG plant
near Vladivostok and establishing resource base

March 18, 2013


Alexey Miller, Chairman of the Gazprom Management Committee held a meeting today at the Company's headquarters regarding the Vladivostok-LNG project. Gazprom approves action plans on constructing LNG plant near Vladivostok and establishing resource base

The meeting participants discussed, in particular, creation of a resource base for the LNG plant near Vladivostok over a long-term period. Special attention was also paid to the information on the potential capacity of the Asia-Pacific markets for Russian liquefied natural gas sales.

Based on the meeting results the approval was given to the Action Plan for the LNG plant construction project and the Work Plan for establishing the project's resource base.

In February 2013 the Vladivostok-LNG project entered the investment stage – the Management Committee approved the Investment Rationale for the LNG plant construction near Vladivostok.

The project envisages building an LNG plant on the Lomonosov Peninsula (Perevoznaya Bay). The plant will have three process trains with the annual capacity of 5 million tons of LNG each. The first process train will be put onstream in 2018. Gas from the Sakhalin gas production center as well as the Yakutia and Irkutsk centers will serve as the resource base. The target markets are represented by the Asia-Pacific countries.

On February 29, 2012 the Greek Government announced the start of a bidding procedure for privatization of DEPA, the state-run gas company.

DEPA is focused on wholesale purchases, sales and supplies of natural gas to industrial consumers and households in Greece. At present, the Greek Republic owns a 65 per cent stake in the company and a 35 per cent stake is held by the domestic refining company Hellenic Petroleum.

Information Directorate, OAO Gazprom