Gazprom enters US gas trading, marketing market

Gazprom Marketing & Trading USA Inc. has begun trading and marketing of natural gas, marking the US entry by a unit of Russia’s OAO Gazprom.

By OGJ editors
HOUSTON, Oct. 2
-- Gazprom Marketing & Trading USA Inc. has begun trading and marketing of natural gas, marking the US entry by a unit of Russia’s OAO Gazprom.

“We look forward to significant growth and profitability from our expanding geographical base,” said Vitaly Vasiliev, chief executive officer of the UK’s Gazprom Marketing & Trading Ltd.

Gazprom’s US trading and marketing unit has acquired more than 350 MMcfd of physical gas supplies at several sites across the US for the next 3-7 years through long-term gas swaps.

The company also will market LNG exported to North America. This includes long-term agreements enabling it to buy LNG from the Sakhalin-2 LNG plant and regasify the LNG in Baja California, Mexico, to be transported by pipeline for sale in the southwestern US.

The company also plans to import LNG into the US from the giant Shtokman LNG development in the Arctic.

More in Companies