Russia's Gazprom to Buy All LNG From Cameroon Export Plant

- November 26th, 2015

Reuters reported that Russia’s Gazprom (MCX:GAZP) has agreed to buy all of the liquefied natural gas (LNG) from an export plant in Cameroon. The plant is expected to start operating in 2017.

Reuters reported that Russia’s Gazprom (MCX:GAZP) has agreed to buy all of the liquefied natural gas (LNG) from an export plant in Cameroon. The plant is expected to start operating in 2017.
As quoted in the market news:

Gazprom is aiming to boost its portfolio in LNG as supply grows and the fuel takes an increasing role in global gas trade.
Gazprom Marketing & Trading (GM&T) will take 1.2 million tonnes of LNG annually from the Perenco project in Cameroon which is being developed by Norwegian shipping company Golar LNG.
Golar is converting one of its LNG tankers into a floating production platform which will chill gas into liquid form for export by ship to world markets.
GM&T, which declined to comment, is expected to sell the LNG into Atlantic markets, including Latin America, but also to China, the sources said.

Click here to read the full Reuters report.

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