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Friday, December 19, 2008

Gazprom to build LNG terminal for 4 bln rubles in Kaliningrad

12.17.2008 – Interfax – Gazprom (RTS: GAZP) is to build a terminal in the Kaliningrad region that will be able to receive more than 2.5 billion cubic meters (bcm) of liquefied natural gas (LNG) per year, according to a new version of a federal targeted program for the region that was approved by the government on December 7. The construction of the LNG terminal and a gas pipeline running from it to existing gas supply systems in the region will cost about 3.96 billion rubles. Of that amount, 348 million rubles will be allocated in 2008, while the rest - 3.612 billion rubles - will be allocated in 2009. The terminal should open in 2011.

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