* Eurobond prospectus seen by Reuters
* Shows project start dates later than previously announced
* New Baltic LNG plant to be commissioned in 2022-2023
* Expansion of Sakhalin-2 LNG plant seen in 2023-2024
By Vladimir Soldatkin and Oksana Kobzeva
MOSCOW, March 13 Russia's Gazprom has
delayed liquefied natural gas (LNG) plans on Sakhalin island and
in the Baltic Sea, a Eurobond presentation showed on Monday.
The delays could disrupt Russia's plans to carve out a
bigger share of the global LNG market, where it aims to triple
its market share of less than 5 percent by 2035.
Gazprom plans to expand the Sakhalin-2 project off Russia's
Pacific coast by 2023-2024, the presentation showed, while
previously it had announced plans to launch a third LNG
production train there in 2021.
The presentation seen by Reuters showed a 2022-23 launch for
a new Baltic LNG plant in the Leningrad region, later than the
2021 start aimed for in a June 2016 memorandum of understanding.
Sakhalin-2 is currently Russia's only LNG plant. It operates
two production lines with a combined capacity of 10 million
tonnes of LNG per year.
"We expect to commission the third LNG production line at
the Sakhalin LNG plant in the period from 2023 through 2024,"
Gazprom's prospectus for the Eurobond issue said.
The third train is expected to boost production by 5.4
million tonnes per year.
The plans to expand the plant have been long considered by
the shareholders but where hampered by issues related to the gas
Shareholders are considering two options: buying gas from
the Sakhalin-1 project led by ExxonMobil, developing new
resources or a combination of the two.
Yet, Sakhalin-1, where Russian state-controlled oil major
Rosneft is also a shareholder, aims to have its own
Gazprom, the world's top conventional gas producer, has
mandated banks to arrange investor meetings in the United States
this week, Thomson Reuters news and market analysis service IFR
said last Wednesday.
IFR said a U.S. dollar denominated Eurobond of a benchmark
size may follow the roadshow, set for March 13 in Los Angeles
and March 14 in New York.
(Editing by Jason Neely)