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New Europe: Sakhalin Energy wants access to Gazprom’s news reserves

Mar 21st, 2006
by admin.

Sakhalin Energy, the operator of the Sakhalin-2 project, hopes that the possible inclusion of Gazprom as a shareholder will give the company access to additional gas reserves, Sakhalin Energy Executive Director Ian Craig told journalists.
Interfax quoted him as saying Gazprom, as a shareholder in the project, could ensure access to additional gas resources in the future. He said that there might also be an advantage in the sale of hydrocarbons, because in future sales markets, Gazprom’s participation might be a strategic advantage.
Craig also said that if the company decides to expand the capacity of its liquefied natural gas plant, it will need to build additional compressor stations, and Gazprom has a lot of experience of building these. Craig said if agreement is reached between Gazprom and the company’s shareholders, the Russian gas company would join the project at quite an advanced stage, when most contracts for LNG would have already been signed and construction of most production assets would have been completed. He said that he thinks that Gazprom’s interest is in acquiring the necessary experience and understanding of how such projects are implemented and LNG is marketed. He also said that a Gazprom delegation should visit in April to study the Sakhalin-2 project.
Craig also said that Sakhalin Energy wants to increase gas reserves at its license zones. After this it may decide to build a third production line at the LNG plant. Two lines are currently being built, with a capacity of 4.8 million tonnes of LNG each. He said that before a decision is reached to build a third line, there needs to be certainty about gas reserves. He also said that the capacity of the two production lines could be increased by several percent without additional investment.

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