Russia: Sakhalin Energy Ships 500th LNG Cargo

Sakhalin Energy said that the 500th standard cargo of 145,000 cubic metres of liquefied natural gas has been loaded onto the K. Jasminе tanker and shipped to Korea Gas Corporation (KOGAS), one of the key players in the global LNG marketplace.

Korea is the second-largest buyer of Sakhalin LNG, while most of it is shipped to Japan. Just in 2011, Sakhalin Energy delivered over 7 million tonnes of LNG, or over 70% of company’s total LNG production, to Japanese customers. In addition, LNG cargoes were delivered to a number of Asia-Pacific countries, including Thailand, Taiwan and China.

Russian LNG sales are not limited to the Asia-Pacific. In 2010, LNG from Sakhalin-2 was shipped to India and oil-rich Kuwait. Tanker delivery is the key to destination-flexible LNG supplies. Sakhalin Energy operates five LNG tankers; in addition, its customers sometimes use chartered vessels to transport LNG cargoes.

While in the past Russian natural gas exports were limited to Europe and the CIS, after the launch of LNG production on Sakhalin, they have expanded to new international markets. In 2011, Sakhalin Energy produced and shipped 10.6 million tonnes of LNG, which amounts to almost 10% of Russian natural gas exports to Europe (150 million cubic meters in 2011.)

Over the three years of its LNG Plant operations, Sakhalin Energy has produced and shipped over 30 million tonnes of LNG, equivalent to 40 billion meters of natural gas, exceeding annual exports to Germany, the largest buyer of Russian natural gas.

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LNG World News Staff, August 13, 2012