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Wednesday, June 10, 2009

Gazprom targets 10% of US gas market

06-10-2009 - Upstream OnLine - Russian gas export monopoly Gazprom plans to raise deliveries to the US and eventually supply up to 10% of the the country's gas needs, a senior company official said on today. "The volumes we currently supply account for 0.5% of gas consumed (in the US). But with the gas from Shtokman and Yamal, our share will grow to 5% to 10%," Gazprom executive Alexander Medvedev said. "We plan to supply 17% of the Shtokman gas to North America," he said. Gazprom views Yamal and Shtokman as key sources of future output as production falls at mature deposits in West Siberia. Shtokman, in the Barents Sea is scheduled to start producing gas for export by pipeline by 2013 and as liquefied natural gas in 2014. Gazprom owns 51%, while France's Total holds 25% and Norway's StatoilHydro owns 24%.

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