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Russia plans to gain shares in liquefied gas market

Russia plans to gain shares in liquefied gas market

Write: Akil [2011-05-20]
MOSCOW, April 20 - Russia is planning to increase its shares in the liquefied gas market, Russian news agencies reported on Monday citing First Deputy Foreign Minister Andrei Denisov.

"Our energy strategy aims to increase the share of liquefied gas in Russia's exports. Fields in the Arctic region, in the northern seas and in the Far East will become a basis for the production of liquefied gas," Denisov said when interviewed by the VIP-Premier magazine.

"Prospects of trade in liquefied gas are rather vast, since liquefied gas shipments by sea are seriously widening the organizational frame of trade, drawing it nearer to normal seller-buyer relationships," the Interfax news agency quoted the diplomat as saying.

Denisov also noted that President Dmitry Medvedev's February visit to the island of Sakhalin for launching ceremony of the liquefied natural gas (LNG) plant was a very positive signal, the Itar-Tass news agency reported.

"Shipments of liquefied gas from Sakhalin are primarily intended for Japan. This large-scale long-term cooperation is a foundation for the further development of the entire system of bilateral relations," he said.

"The commissioning of the gas liquefying plant under the Sakhalin-2 project, built by Gazprom in cooperation with Japanese and Anglo-Dutch companies, is a breakthrough into the future," he added.

Russia launched its first LNG plant in February which will supply energy to Japan.

The LNG plant, part of the 20 billion U.S. dollar Sakhalin-2 oil and gas project off Russia's Pacific Coast, is seen as a symbol of the potential for Russia-Japan economic cooperation, which has been hampered by the dispute over the four islands in the Pacific Ocean.