Russia's gas monopoly Gazprom and German global powerhouse in electronics and electrical engineering Siemens AG have signed a memorandum of understanding on cooperation in liquefied natural gas (LNG) production and further cooperation in the development of the giant Stockman gas field, Siemens said on Thursday.
The document was signed by Gazprom Chief Executive Officer Alexei Miller and Siemens AG Chairman Peter Löscher at the St. Petersburg International Economic Forum 2010.
Siemens said in a statement that the parties planned to build an LNG production unit based on the liquifin technology, a highly-efficient process for liquefying natural gas.
The companies will also discuss a possible production of Siemens AG equipment at Russian plants to increase the share of Russian equipment. They also want to do research works as part of the Stockman gas field development.
Shtokman, with estimated reserves of 3.8 trillion cubic meters, is to feed Nord Stream, a gas pipeline set to link Russia and the European Union via the Baltic Sea.
MOSCOW, June 17 (RIA Novosti)
