December 10, 2008
Advanced Search

Login:

Password:

Forgot your password?
Register now

Home / Issue Archive / 2008 / October #10 / Exxon, Conoco May Join Gazprom's Yamal LNG Projects

№ 10 (October 2008)

Exxon, Conoco May Join Gazprom's Yamal LNG Projects

Russia's Gazprom is considering U.S. majors Exxon Mobil and ConocoPhillips for its liquefied natural gas (LNG) projects in Russia's Arctic Yamal region, its deputy chairman said on Tuesday.

Alexander Medvedev also said Conoco could gain access to gas deposits in Yamal in exchange for Russian gas export monopoly Gazprom joining gas projects in Alaska.

 

 

Share it!
By  Tanya Mosolova and Katya Golubkova, AFX News Limited

 

Russia's Gazprom is considering U.S. majors Exxon Mobil and ConocoPhillips for its liquefied natural gas (LNG) projects in Russia's Arctic Yamal region, its deputy chairman said on Tuesday.

Alexander Medvedev also said Conoco could gain access to gas deposits in Yamal in exchange for Russian gas export monopoly Gazprom joining gas projects in Alaska.

"The list (of possible participants) is currently being made, but we do not exclude majors such as Exxon Mobil and Conoco from joining the project," Medvedev told reporters on the sidelines of a gas conference.

In the summer Gazprom said it saw Royal Dutch Shell as one of its potential partners in LNG projects in the gas-rich Arctic Yamal peninsula, where temperatures regularly drop to -40 celsius.

Time frames of potential projects are not yet known.

Medvedev also said Conoco could gain access to the Yuzhno Tambeisky gas deposits in Yamal.

His statements marked a major turning point in agreements between Gazprom and the far northwestern U.S. state, which is divided from Russia by the mostly frozen Bering sea Strait.

Critics say the Alaskan gas pipeline, a project idea which has existed since the 1970s, will be too costly and has already faced severe delays due to revenue disputes.

But Medvedev said that while Alaska can pose technical challenges, it is not dissimilar from Russia.

"Recently, we had a meeting with top managers of Conoco and outlined potential areas of cooperation. One of these areas (involves) the Arctic, both in the United States and Russia... they are very similar."

Gazprom views Yamal as its key source of future gas output as production is falling at mature deposits in West Siberia. The firm has said new deposits on Yamal and in East Siberia and the Russian Far East will account for half of its output by 2020.

 

- Copyright 2008, AFX News. All rights reserved.

Photo: Oil&Capital Journal. 

 

 

Share it!
/
Copyright © 2008 Eurasia Press, Inc. (USA). All rights reserved.
Web programming by Iflexion
Copyright © 2008 Eurasia Press (www.eurasiapress.com)