Gazprom's LNG production reaches China via Northern Sea Route for first time

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Gazprom's LNG production reaches China via Northern Sea Route for first time

Russian energy corporation Gazprom (MCX: GAZP ) has successfully delivered a shipment of its own-produced liquefied natural gas (LNG) to China via the Northern Sea (NYSE: SE ) Route, marking a first in the company's history. The LNG was produced at the company's complex near the Portovaya compressor station and was transported on the gas tanker Veliky Novgorod. The cargo was unloaded at the Tangshan LNG receiving terminal in China today, Friday.

The Northern Sea Route significantly reduces the time required for LNG shipments to be delivered to the Asia-Pacific region, as noted by Gazprom. This strategic move also showcases Russia's ability to navigate arctic waters for commercial purposes, potentially strengthening its position as an Arctic superpower.

Gazprom's complex for LNG production, storage, and shipment near the Portovaya compressor station started operations in September 2022. By May 2023, the facility had produced its first million tons of LNG. The design capacity of the complex is 1.5 million tons of LNG per year.

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