OREANDA-NEWS. On its meeting, the Gazprom Management Committee considered the information related to the Baltic LNG project activities, the Gazprom information division reports.
The meeting decided to complete the justification of investments for construction of a LNG production plant and a marine terminal in the Baltic Sea offshore area.

The Baltic LNG project stipulates construction of a LNG plant in the Leningrad Oblast. The Baltic LNG Company was set up with the aim of executing the said project where Gazprom Germany and Sovkomflot hold 80 and 20 percent, respectively. The plant capacity might be equal to 5 or 7.2 mln tons of liquified natural gas per annum depending on the number of trains (1 or 2).

The market of the Atlantic basin is a most attractive zone for liquified natural gas deliveries. By 2012, the parties plan entering the LNG market there.