Gazprom, PetroCanada Eye LNG Cooperation

Russia's state-run energy giant Gazprom and integrated oil and gas firm PetroCanada confirmed their interest in long-term cooperation in the sector, on joint projects that are likely to focus on shipping Russian liquefied natural gas to North American markets. In October 2004 the two companies signed a memorandum of understanding to study opportunities for starting LNG deliveries to North America by 2009. They have also agreed to conduct a feasibility study into the construction of a gas liquefaction plant in Russia's Leningrad Region, of which St Petersburg is the center.