July 19, 2012 / 6:47 AM / 7 years ago

Gazprom in talks to buy gas from Brunei - paper

MOSCOW, July 19 (Reuters) - Gazprom has been in talks with Brunei LNG about possible gas purchases due to uncertainty over liquefied natural gas production in Russia, Vedomosti daily reported on Thursday.

Gazprom, the holder of the world’s largest gas reserves, has been struggling to kick-start LNG projects in Russia due to global financial woes and recent discoveries of vast unconventional gas resources in the United States.

Vedomosti, citing documents prepared for Gazprom’s board, said the gas from Brunei LNG could be purchased after 2013 when current contracts expire.

Brunei LNG is half-owned by Brunei, with Japanese group Mitsubishi Corp and British company Shell each owning 25 percent.

A Gazprom spokeswoman would not comment.

Russia’s only LNG plant, Gazprom-led Sakhalin-2, produces around 10 million tonnes a year.

Gazprom, and partners in the Shtokman project, Total and Statoil, have been struggling to arrive at a workable scheme to develop the huge Barents Sea field which holds more gas than all of Norway’s continental shelf.

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