Gazprom Doubles Investments at Vladivostok LNG Plant

Russia’s Gazprom is stepping up its efforts to maintain control over Liquefied Natural Gas, doubling investments in the Vladivostok plant to $13.5 billion and appointing Igor Krutikov as Director General of Gazprom LNG Vladivostok.

Gazprom LNG Vladivostok is a special-purpose company set up for implementing the Vladivostok LNG project. 

The initial investment was $6.7 billion. The new figure includes infrastructure such as a port, gas pipeline and power station, wrote Reuters on Thursday.

Gazprom signed a Memorandum of Cooperation with Vladimir Miklushevsky, Governor of the Primorye Territory, on Wednesday.

According to a note released by Russia’s top gas producer, ‘the Primorye Territory Administration will provide assistance to Gazprom in obtaining necessary approvals and registering ownership rights for real estate facilities to be constructed and land parcels to be purchased.’