July 16 (Bloomberg) — OAO Gazprom and Royal Dutch Shell Plcs Sakhalin-2 venture in Russia posted an unexpected profit last year after oil and liquefied natural gas shipments beat targets to offset losses from a delay in the project.
The partners had estimated a loss because a delay in the start of LNG output forced them to compensate customers for contracted volumes, two people familiar with the results said, declining to be identified in line with company policy. The Yuzhno-Sakhalinsk, Sakhalin Island-based venture doesnt report financial results. Sakhalin is off Russias far eastern coast.