Active search for new markets and expansion of the customer portfolio is underway
Sakhalin Energy LLC, the Sakhalin-2 project operator, says it continues to operate in full compliance with the Production Sharing Agreement. Oil and gas production and export are carried out as usual in accordance with the current schedule and current market situation.
"Our key priority is to meet our commitments to our customers in accordance with the terms of the contracts. We continue to ensure stable and reliable hydrocarbon supplies, which once again proves the professionalism of our team and high business reputation of the сompany. Today, we are actively searching for new markets and expanding our customer portfolio enhancing the competitiveness of the Sakhalin LNG," said Roman Dashkov, Chief Executive Officer.
New operator of Sakhalin 2 project, Sakhalin Energy LLC, commenced its operation on 19 August 2022.
In pursuance of the Russian President’s executive order signed on June 30 (No 416), the new structure took over the rights and obligations of the previous operator as well as its personnel with the preservation of its social support and remuneration terms.
Shell earlier announced its plans to exit from the Russian projects. Shell holds 27.5% of Sakhalin 2 shares. Sakhalin 2 is a joint project on the Sakhalin island with Gazprom holding 50%, Mitsui – 12.5%, Mitsubishi - 10%.
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