A $7bn LNG plant near Vladivostok

27/05/2011 00:19 Natural Gas


Gazprom and a consortium of Japanese companies will invest $7 billion in the construction of a LNG plant in the Far Eastern Russia, near the Pacific port of Vladivostok, as the Russian giant plans to boost its natural gas supplies to Europe.

The plant will double Gazprom's annual production of LNG to 20 million tons after being launched in 2016. The contract between those two sides was signed previously and is aimed to cover Japanese electricity demand that has increased sharply since the March 11 earthquake and tsunami which reduced the nuclear-power capacity of the country. Under the deal, Japan will get 7 million tons of the LNG a year, and the rest will be carried to South Korea. The return on the investment is expected in seven to eight years.

Daily (31.03.2020): Oil prices plummeted to 18-year lows on Monday as demand suffers an unprecedented decline

31/03/2020 10:51:00

Crude oil prices crashed to fresh 18-year lows on Monday as growing fears over the coronavirus pandemic eroded demand, while the Saudi Arabia-Russia price war threatened to overload the market. Brent crude collapsed by 8.7% to close at $22.76 a barrel, the lowest settlement since November 2002. Meanwhile, the U.S. WTI crude plunged by 6.6% to end at $20.09 a barrel.


Vestas wins 109MW French fancy

31/03/2020 09:28:00

Vestas has secured a turbine order totalling 109MW from an undisclosed customer in France for an unnamed wind farm.


Poland State Gas Distributor Says It Wins $1.5 Billion From Russia's Gazprom In Price Dispute

31/03/2020 09:23:00

Poland’s largest distributor of natural gas has announced it won a years-long energy-supply price dispute with Russia’s state-run Gazprom worth $1.5 billion at an international arbitration court in Sweden.