The Gazprom Board of Directors took notice of the information regarding the implementation of the strategy for production and supply of liquefied natural gas (LNG).

Among the crucial factors determining the current status of the LNG market were highlighted the following: further growth of demand at promising markets of China, India and Southeastern Asia as well as the emergence of new LNG importers.

Gazprom goes on developing LNG sales from its portfolio. Over the first 6 months of 2015 it sold 22 LNG cargoes with the total volume exceeding 1.5 million tons, thus showing a 17 per cent increase as compared to the same period of the previous year. This is equivalent to the total LNG sales in 2013. Gazprom has increased the number of deals, thanks to a rise in LNG volumes being purchased through the settled contracts, as well as to spot and swap deals. The Company is active in LNG sales, including urgent LNG shipments, and supplies to the new markets of the Middle East, Latin America and Southeast Asia.

With a view to expand its own LNG production, the Company is implementing the project for constructing the third process train within Sakhalin II (up to 5.4 million tons per year) as well as the Baltic LNG project (10 million tons per year).

Gazprom also aims to market additional gas volumes via low-tonnage LNG supplies. To achieve the target, Gazprom builds up its production capacities and expands the network of low-tonnage LNG facilities.

About Gazprom

Gazprom is a global energy company. Its major business lines are geological exploration, production, transportation, storage, processing and sales of gas, gas condensate and oil, sales of gas as a vehicle fuel as well as generation and marketing of heat and electric power.

Gazprom views its mission in reliable, efficient and balanced supply of natural gas, other energy resources and their derivatives to consumers.

Gazprom holds the world’s largest natural gas reserves. The Company’s share in the global and Russian gas reserves makes up 18 and 72 per cent respectively. Gazprom accounts for 14 and 74 per cent of the global and Russian gas output accordingly. At present, the Company actively implements large-scale projects aimed at exploiting gas resources of the Yamal Peninsula, Arctic Shelf, Eastern Siberia and the Far East, as well as hydrocarbons exploration and production projects abroad.

Gazprom is a reliable supplier of gas to Russian and foreign consumers. The Company owns the world’s largest gas transmission network – the Unified Gas Supply System of Russia with the total length of over 168 thousand kilometers. Gazprom sells more than half of overall produced gas to Russian consumers and exports gas to more than 30 countries within and beyond the former Soviet Union.