Gazprom, Linde, Power Machines, and Salavatneftemash have signed an agreement to join efforts for producing LNG equipment in Russia.
Under the agreement, the parties will explore the possibilities for joining efforts to establish a Russian-based manufacturer of natural gas liquefaction and processing equipment.
The companies will initially prepare a feasibility study and business plan to identify the better form of partnership, which includes a possible joint venture by the end of this year.
While preparing the feasibility study and business plan, the companies will consider the technological demand for such equipment in Russia.
Components produced in the country will be used in the manufacturing process to the maximum extent possible.
Gazprom, Linde, Power Machines, and Salavatneftemash plan to manufacture a range of equipment for facilities employing various technologies for gas liquefaction, as well as processing.
In a separate announcement, Gazprom has announced its intention for the possible use of Siemens technologies and equipment for new projects.
At the St Petersburg International Economic Forum 2016 meeting, both Siemens and Gazprom discussed a collaboration of the companies in development, automation, IT penetration, telemechanics, telecommunications, energy saving, and environmental protection areas.
Gazprom said that the company proposes to use technologies and equipment produced by Siemens for its new infrastructure projects.
Electronics and electric tools manufacturer Siemens entered the Russian market in 1853.
Image: Salavatneftemash board of directors chairman Alexey Mityushov, Linde CEO Wolfgang Buechele, Gazprom Management Committee chairman Alexey Miller, Power Machines board of directors chairman Alexey Mordashov signing the agreements. Photo: courtesy of Gazprom.
