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Gazprom to Build LNG Terminal in Kaliningrad Region by 2018

State gas corporation Gazprom will build a gas liquefaction terminal in the Kaliningrad region capable of processing 2.4 million tons of LNG per year, the company announced Friday.

The new terminal will be linked to the existing gas pipeline near the local underground gas storage facility, which will allow to deliver gas to local consumers as well as pump it into storage reservoirs, Interfax said.

Considering the geographical position of the most-western Russian region delivering liquid natural gas by sea would "significantly improve the region's energy security," Gazprom said in a statement.

The company is currently considering several locations for building the new terminal. Details on exact investments required for the project will be finalized next year, the company said.

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