Gazprom’s Baltic LNG project in the Baltic Sea port of Ust-Luga is estimated at 1 trillion roubles (around $18.5 billion), a port official told reporters at a conference, Reuters reports.
The plant capacity will amount to 10 million tons of LNG a year with the possibility of expansion to 15 million tons.
It will be supplied with gas from the Unified Gas Supply System of Russia, according to Gazprom.
In 2013, Gazprom signed the memorandum of understanding and cooperation with Leningrad region as part of the liquefied natural gas plant project.
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LNG World News Staff; Image: Ust-Luga Company