Gazprom and Shell discuss next steps in Baltic LNG project
Background
Royal Dutch Shell is a British-Dutch oil and gas holding company focused on hydrocarbon production, processing and marketing in more than 70 countries.
Gazprom and Shell are jointly engaged in the Sakhalin II project, which includes Russia's first LNG plant. In 2015, Gazprom and Shell signed the Memorandum to construct the third production train of the LNG plant, as well as the Agreement of Strategic Cooperation.
The Baltic LNG project envisages the construction of an LNG plant with the annual capacity of 10 million tons in the port of Ust-Luga, Leningrad Region. In 2017, Gazprom and Shell inked the Heads of Agreement to set up a joint venture for the purposes of implementing the Baltic LNG project. On October 4, 2018, Gazprom and Shell signed the Framework Agreement on the joint design concept for Baltic LNG.
Nord Stream 2 is the construction project for a gas pipeline with the annual capacity of 55 billion cubic meters from Russia to Germany across the Baltic Sea.
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