NEWS
Gazprom achieves first LNG swap trade deal
London, Aug 8 (LNG journal)
- The UK-based marketing and trading arm of Russia's gas monopoly, Gazprom, said it had clinched its first liquefied natural gas swap deal as part of its strategy to learn more about the business.
Gazprom said it closed a deal with oil major Royal Dutch Shell and BG Group of the UK for its first LNG cargo transaction for delivery to the United States .
The LNG, which was purchased from BG Group, will be delivered to Shell at the beginning of September at the Cove Point LNG receiving terminal in the US state of Maryland , where Shell holds regasification capacity at Cove Point.
"With this first LNG cargo delivery into the United States , Gazprom has taken the first step towards becoming a leading LNG supply, shipping, and marketing company," it said in a statement.
"Gazprom is now focusing on its strategic goal to expand its LNG marketing and trading activities in the coming months and years in preparation for the first availability of Russian-produced LNG in a few years time," the Russian company added.
