Total is looking for a stake in Gazprom’s future Baltic LNG plant after the partners decided to put their Shtokman LNG project on the shelf.
Earlier in the year, Gazprom revived plans to build a plant to produce LNG on the shore of the Baltic Sea after it stopped the Shtokman project in the Barents Sea due to overrunning costs.
Gazprom plans to launch the first stage of its Baltic LNG plant, which will have annual production capacity of up to 10 million tons of the frozen gas, at the end of 2018.
Gazprom’s exclusive rights to ship pipeline gas abroad remain intact.
Total is also a partner of Russia’s second largest gas producer , Novatek in Yamal LNG, which is slated to produce up to 16.5 million tonnes of seaborne gas in 2018.
Russia has only one operational LNG plant, operated by Gazprom, on Sakhalins.