Russia: Gazprom, Shell Execs Discuss Sakhalin II

Production platform at Lunskoye field (Sakhalin II project)

The Gazprom headquarters hosted today 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.

Background

Shell is a British-Dutch petroleum company focused on hydrocarbons production, processing and marketing in over 90 countries of the world.

On April 18, 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.

On November 30, 2010 Gazprom and Shell signed the Protocol on Global Strategic Cooperation providing opportunities for wider interaction of the companies in hydrocarbons exploration, production, processing and distribution in Russian and international energy markets.

On June 16, 2011 Gazprom Neft and Shell signed the Basic Terms and Conditions of the Agreement stipulating the study of possible ways to create a joint venture for joint projects delivery in Western Siberia, other Russian regions and in third countries.

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Source: Gazprom, March 16, 2012

 

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