Gazprom is changing tack on its LNG export plans in an apparent response to shifting market conditions.
The state-controlled gas giant is expected to sign a deal with a Japanese consortium in the coming days to allow for all-systems-go at the proposed Vladivostok export project in Russia’s far east.
On the other side of the country, Gazprom last week appeared to pull back from its Shtokman LNG project on the Barents Sea coast due to cost issues.
The switch has come as little surprise to some market watchers, who argued the changing dynamics of the gas markets are undermining the viability of the western development.
“It is logical.
