ST. PETERSBURG (Sputnik) — The document was signed on the sidelines of the St. Petersburg International Economic Forum (SPIEF) by Alexey Miller, Chairman of the Management Committee of Gazprom and Ben van Beurden, CEO of Royal Dutch Shell plc.
"The document underlines the main principles of the operations of the joint venture which will carry out works on projecting, attracting investments, construction and operation of the LNG plant in Russia's Leningrad Region. Gazprom and Shell will resume the implementation of the Baltic LNG project on the basis of these principles," the statement read.
The parties have also concluded a framework agreement on the joint technical and economic research within the Baltic LNG project. The signing of this document will allow the companies to start the elaboration of the project documentation in the near future.
In March, Gazprom announced that that Baltic LNG plant would start its operations in 2022-2023 while the date could be reconsidered after the planning documentation on the project would be finished.
The 21st annual SPIEF is a major global platform for business representatives where crucial economic issues are discussed. SPIEF is held between Thursday and Saturday. Sputnik News Agency is the official media partner of the forum.