Gazprom and Shell praise Sakhalin Energy
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Ben van Beurden, Chief Executive Officer of Royal Dutch Shell, took place today in Moscow.
The parties discussed cooperation-related issues, paying particular attention to the progress and prospects of the Sakhalin II project. The meeting participants praised the project operator, Sakhalin Energy, for its work. It was noted that the company, which is celebrating its 25th anniversary today, has contributed to the successful integration of Russian and international technological expertise and the creation of an LNG production sector in Russia.
Royal Dutch Shell is a British-Dutch oil and gas holding company focused on hydrocarbon production, processing and marketing in more than 70 countries.
Gazprom and Shell are jointly engaged in the Sakhalin II project, which includes Russia's first LNG plant. The project operator of Sakhalin II is Sakhalin Energy (Gazprom – 50 per cent plus one share, Shell – 27.5 per cent minus one share, Mitsui – 12.5 per cent, and Mitsubishi – 10 per cent).
Gazprom and Shell signed the Memorandum to construct the third production train of the LNG plant (Sakhalin II), as well as the Agreement of Strategic Cooperation.