Moscow: Russian energy giant Gazprom could soon be setting up its regional hub in Bahrain.
Oil and Gas Affairs Minister and National Oil and Gas Authority (Noga) chairman Dr Abdulhussain Mirza said talks with the company are at an advanced stage and a deal could emerge in the next few months.
'Though the deal covers supply of liquefied natural gas (LNG) to Bahrain either directly from Russia by container ships or through other means, the company has expressed a desire to set up the Bahrain hub,' Dr Mirza told Gulf Daily News (GDN).
'This hub then could be used to supply gas to neighbouring GCC countries or even as far away as India and Pakistan,' he said.
'There will be a phenomenal increase in demand for gas in the next decade and we will then need these supplies,' the minister said.
'Though the GCC region will need a lot, the Indian Subcontinent demands will be far greater.'
He said Gazprom could be looking at tapping the South Asian markets by sending supplies through Bahrain.
A tender to build a $800 million LNG terminal in Bahrain, near the Khalifa bin Salman Port, is expected to be awarded sometime in the next two months and construction will begin soon thereafter.
This terminal is expected to be up and running by the end of 2014, by which time Bahrain will also be ready to receive LNG supplies. [02/02/11]
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