Gazprom and Shell approve Sakhalin II potential capacity creep
The Gazprom headquarters hosted today a working meeting between Gazprom's Management Committee Chairman Alexey Miller and Shell's Chief Executive Officer Ben van Beurden.
The participants addressed the issues of their current and future bilateral cooperation, first of all, in the liquefied natural gas (LNG) production within the Sakhalin II project. The parties praised the joint efforts of both companies and emphasized a high potential of building up the LNG production as part of the said project.
Background
Shell is a British-Dutch oil and gas company focused on hydrocarbons production, processing and marketing in over 90 countries worldwide.
In 2013 Gazprom and Shell signed the Memorandum outlining the principles of cooperation within hydrocarbons exploration and development in Russia's Arctic shelf and a part of deepwater shelf abroad.
As part of Sakhalin II, Russia's first LNG plant was commissioned in 2009 and consumers abroad started receiving LNG from Russia. In 2010 the plant reached its full capacity of 9.6 million tons per year. A total of 10.8 million tons of LNG and 5.4 million tons of oil were produced within the Sakhalin II project in 2013.
Sakhalin Energy is the Sakhalin II project operator with ownership spread among Gazprom (50 per cent plus one share), Shell (27.5 per cent less one share), Mitsui & Co. (12.5 per cent) and Mitsubishi Corporation (10 per cent).
In February 2014 Gazprom and Shell signed the memorandum-roadmap to prepare FEED documents for the third LNG production train within the Sakhalin II project.
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