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Gazprom OAO Adopts Final Investment Decision for Vladivostok-LNG project

Wednesday, 20 Feb 2013 07:00pm EST 

Gazprom OAO (Gazprom) announced that the Gazprom Management Committee approved the investment rationale for LNG plant near Vladivostok. The investment rationale will lay the foundation for generating the project documentation. In this way, the Vladivostok-LNG project entered the investment stage. As part of the Vladivostok-LNG project a liquefied natural gas (LNG) plant will be constructed on the Lomonosov Peninsula (Perevoznaya Bay). The plant will have three process trains with an annual capacity of 5 million tons of LNG each. The first train will be put onstream in 2018. The plant will receive gas from the Sakhalin, Yakutia and Irkutsk gas production centers. The target sales markets are the countries of the Asia-Pacific region. Gazprom's structural units were tasked to prepare within a month period a plan of priority measures to implement the project. The plan, inter alia, provides for establishing a Special-Purpose Company in 2013 and conducting commercial negotiations with LNG purchasers. 

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