Russian oil and gas company Gazprom concluded a gas supply and offtake agreement for the Ust-Luga gas processing terminal and a liquefaction terminal.
The gas giant will supply up to 45 Bcm/yr of natural gas sourced from Achim and Valanzhin blocks in west Siberia.
Further, around 20 Bcm of gas will be fed to the proposed Baltic LNG terminal with 13 mtpa capacity and scheduled for operation in 2024.
Gazprom and its private partner RusGasDobycha are focusing on attracting funding for the proposed LNG terminal and are yet to conclude the EPC contract agreement.
Earlier, in May 2021, Gazprom and RusGasDobycha awarded the contract to deliver services for the natural gas processing portion of the planned gas processing, liquefaction, and chemical complex near Ust-Luga to Linde group.