Gazprom ready for regular gas deliveries to USA

NEW YORK (Itar-Tass) - Russia's Gazprom giant said on
Thursday it is ready to begin regular gas shipments to the United States
and is waiting for a proper price.
"Gazprom has everything ready for regular gas deliveries to the United
States. It remains to wait for an acceptable price," deputy CEO of the gas
monopoly Alexander Medvedev said at Gazprom Investor Day.
He specified the company has regasifying capacities at Baja California
terminal in Mexico and sufficient liquefied natural gas reserves.
Medvedev said supplies of liquefied natural gas from the Shtokman
field located on Russia's Arctic shelf will begin in 2017. "We don't see
any reasons for postponing the start of deliveries," he said.
He said Gazprom is considering swap transactions with other gas
producers which means "Shtokman field can benefit from the price situation
not only on the markets where its LNG will be physically supplied, but
also on the markets of swapped volumes."
"There are no grounds today for separating the investment solutions on
pipeline gas and the LNG and we expect in this connection that an
investment decision on the integrated project for the development of
Shtokman deposit - including the liquefaction plant - will be taken before
the end of this year," Medvedev said.
As for the shale gas in the United States, Medvedev said "we see no
shale gas threat to our business and even note the factors which can
promote our business development." He did not elaborate, but said in the
long run shale gas "will play a positive role for the world gas market and
the gas market in the United States."
Medvedev estimated Gazprom's consolidated export revenues at $72.1
billion in 2011 and said the company will recover its highest
capitalization in five years. He said half a trillion dollars are "an
absolutely real capitalization which can be achieved in the coming
five-year period on condition no speculation wave will cover Europe and
the United States."
As for political upheavals in North Africa, Medvedev said they will
hardly affect Gazprom's projects.
"Gazprom is already working in Algeria and Libya," he said adding
Libya's Elephant oilfield deal has been recently completed by Gazprom Neft
subsidiary.
"As for today, all these projects proceed as scheduled and without any
problems," he said, adding Gazprom hopes "no radical changes will occur in
the current situation."