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Japan LNG Market Eyed

Japan is a likely market for liquefied natural gas from the giant Shtokman field in the Barents Sea, slated for development by a consortium led by Gazprom, the head of the Russian gas export monopoly said Monday. "The Japanese market is the biggest LNG market in the world and considering the decision by the Japanese government to reduce nuclear power generation, the demand for LNG into Japan will only increase," Gazprom chief executive Alexei Miller told reporters. "So of course LNG deliveries...

Lithuania Orders Floating LNG Unit

Reuters

Lithuania took a step toward less dependence on Russian gas by deciding Monday to pick Norway's Hoegh LNG to provide an offshore platform for liquefied natural gas imports. VILNIUS — Lithuania took a step toward less dependence on Russian gas by deciding Monday to pick Norway's Hoegh LNG to provide an offshore platform for liquefied...

Gazprom Reduces Export Target Due to Europe Lull

Bloomberg

... percent share in 2010, CEO Alexei Miller said in June. Cargoes of liquefied natural gas, which kept Europe oversupplied in 2010, were diverted to Asia to counter a shortfall created by idled nuclear capacity in Japan last year. Japan boosted imports of LNG to a record in 2011 after the disaster at the Fukushima Dai-Ichi reactor in March led to the shutdown of most of its atomic plants. Colder than usual weather in most of Europe earlier this month boosted demand for Russian gas. While rejecting calls...

Privatization Schedule Updated

Reuters

... a 25 percent stake, said sources close to the potential placement in July, while the new government plans state that a 50 percent minus one share stake could be sold. The company owns the world’s largest fleet of Arctic, Aframax and ice-class LNG tankers. Its net profit fell 11.3 percent in 2010 to $164.3 million. Russian Railways The rail monopoly is in the process of selling off various divisions to private investors while the government plans to offload a 25 percent minus one share stake...

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