Gazprom, MOL, ITOCHU to study Russian LNG transportation
World's-largest natural gas producer Gazprom Wednesday signed a memorandum of understanding with Mitsui O.S.K. Lines and ITOCHU Corp. to study potential liquefied natural gas transportation from Russia.
Russian state-owned Gazprom plans to start exporting LNG to Europe and North America by 2010. It is developing Shtockman gas field, located 550 kilometers offshore from Murmansk, with a proved reserve of 3.2 trillion cubic-meters.
MOL said it and ITOCHU approached Gazprom a few years ago to help further their participating in the LNG transportation business in Russia.
In June, MOL opened offices in Moscow and Vladivostok.