By that time, Gazprom intends to hold about 25% of the global LNG market, supplying liquefied natural gas to the United States, Asia and Pacific states and other countries, Valery Golubev, deputy chairman of the company's management committee told a forum on Russia's fuel and energy sector in the 21st century.
Gazprom intends to start LNG supplies to APEC (Asia-Pacific Economic Cooperation) countries in 2009 under the Sakhalin-II oil and gas project and create LNG production facilities as part of the project to develop the vast Shtokman gas deposit in the Barents Sea.
The Sakhalin II project, in which Gazprom holds a controlling stake, has estimated reserves of 150 million metric tons (1.1 billion barrels) of oil and 500 billion cubic meters of natural gas.
The Shtokman project to develop the Arctic gas field, with estimated gas reserves of 3.7 trillion cubic meters, is intended to supply the Nord Stream pipeline from Russia to Germany currently being built under the Baltic Sea. The Shtokman project cost is estimated at $30 billion.
Gazprom has a 51% stake in the project, while France's Total and Norway's StatoilHydro have 25% and 24%, respectively.
