Gazprom, Shell Discuss Sakhalin II Project (Russia)

The Gazprom headquarters hosted yestrerday a working meeting between Alexey Miller, Chairman of the Company’s Management Committee and Peter Voser, Chief Executive Officer of Royal Dutch Shell.

The parties discussed the joint efforts within the Protocol on Strategic Global Cooperation.

Special attention was paid to the interaction within the Sakhalin II project and possible cooperation deepening in geological exploration, production, processing and distribution of hydrocarbons in Russia and abroad.

Ib 2007 Gazprom and the shareholders of Sakhalin Energy (Royal Dutch Shell, Mitsui & Co., and Mitsubishi Corporation), the Sakhalin II project operator, signed the Purchase and Sale Agreement providing for Gazprom to acquire a stake of 50 per cent plus one share in Sakhalin Energy.

As part of the project, Russia’s first LNG plant was commissioned in early 2009 and Russian LNG supplies to foreign consumers started. In 2010 the plant reached the design capacity of 9.6 million tons per annum.

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LNG World News Staff, March 16, 2012