The Phaserl


European Resistance to Gazprom is Futile

by Daniel J. Graeber, Oil Price:

Russian energy company Gazprom said it was looking to get a liquefied natural gas facility launched on the Baltic Sea within the next five years. It’s already sending natural gas overseas via the twin Nord Stream natural gas pipeline to the coast of Germany. Gazprom supplies European energy consumers with about 25 percent of their gas and aims to do even more by linking Great Britain to the Nord Stream pipeline. The company said it wants to expand its regional presence further by sending 10 million tons of LNG from the coast of Finland. With Europe on the cusp of getting alternate natural gas supplies from Azerbaijan, one of the largest natural gas companies in the world is already putting its chess pieces back on the European board.

Gazprom said Wednesday it wants to get operations at a LNG facility on the Baltic Sea under way by 2018. Last week, the Russian gas monopoly announced similar plans for the Gulf of Finland. That project would have the capacity to deliver up to 10 million tons of LNG per year. Presumably, both projects would add to the footprint already established with the twin Nord Stream natural gas pipeline for Europe.

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