Gazprom ties up pipeline-for-LNG European gas swap
Russian natural gas monopoly Gazprom has concluded its first deal to swap pipeline gas for liquefied natural gas (LNG).
Gazprom will deliver 80 million cubic metres of pipeline gas to Gaz de France, in return for an LNG cargo of equivalent volume from Med LNG & Gas, a joint venture of Gaz de France and Algeria's Sonatrach. The LNG cargo is being sold to Shell Western LNG for delivery to the Cove Point import terminal in Maryland, US.
"Our short-term goal is to build the company's expertise in LNG
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