Sibur Petrochemical Group acquires 80% stake from Gazprom in idle Baltic LNG site

Russian gas giant Gazprom has sold its 80% holding in the Baltic LNG project to the Sibur petrochemical group, as per Platts. Talks are underway by Sibur to acquire the balance 20% stake from Russia's largest shipper. Gazprom abandoned plans to build the Baltic LNG plant in February 2008, as it switched focus to the Arctic Shtokman field, where the company and its partners plan to make an investment decision by the end of March. Baltic LNG’s 120 hectare property is being planned to be used to build a methanol plant.
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