Russian state-owned oil and gas giant Gazprom is pondering to create a liquefied natural gas (LNG) distribution hub in Bahrain, which will be meant to intake LNG from various countries, including Russia, Governor of St. Petersburg, Georgy Poltavchenko, said during his visit to the country, informed Russian News Agency TASS.
According to Oil Price, the exact volume of LNG deliveries is hard to evaluate at the moment; according to preliminary estimates, it could amount to several billion cubic meters annually.
Russia is currently negotiating the possibilities of LNG deliveries to the island nation in the Persian Gulf, with possible financing provided by Russia’s Vnesheconombank (VEB). The possibility of Russian independent natural gas producers has also been taken into consideration.
Bahrain’s own natural gas stock is limited and the country is dependent on deliveries from the outside. However, talks with neighboring gas-exporting countries – Qatar and Iran, have met with difficulties due to political differences.