Russian energy giant Gazprom is considering to build a gas processing plant on the coast of Baltic Sea near St. Petersburg, Russian news agency Tass reported on Monday.
According to the report, a Gazprom representative confirmed that the project exists and it involves gas processing.
The gas refining and chemical complex will be able to process up to 45 billion cubic meters natural gas and the cost of the project is estimated about $ 20 billion, reports said.
'Japanese companies Mitsui and Mitsubishi are also interested in the minority stake and can enter the project' said in the report.
The plant will be able to supply gas to the Baltic LNG, a natural gas liquefaction plant project in the same region.
The potential target markets for the Baltic LNG project include countries in the Atlantic region, Middle East, and South Asia, as well as small-scale LNG markets in the areas of the Baltic and North Seas.
The new project could become the second largest in all Gazprom investment projects following the Siberian Power pipeline with the amount of $ 55 billion.
Reporting by Emre Gurkan Abay in Moscow
Writing by Muhsin Baris Tiryakioglu
Anadolu Agency
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