The gas giant Gazprom may soon create an energy hub in Far East to feed growing demand in Asia. The Russian monopolist is facing tough competition in Europe and is trying to gain a bigger share on exports to China.

 According to materials on the region’s investment plans, Gazprom “may build an LNG facility to process 26 billion cubic meters a year of gas (about 18 million metric tons of LNG). The plant, which may be built by 2015, may cost 720 billion roubles ($24.2 billion). A compressed natural gas, or CNG, plant is also being considered.”

Article – Bloomberg – October 2010.