Itar-Tass.com: Anglo-Dutch oil giant Shell considers inviting Gazprom into Sakhalin- 2 project

23.06.2004

MOSCOW, June 23 (Itar-Tass) - The Anglo-Dutch oil giant Shell considers inviting the Russian gas monopolist Gazprom into the Sakhalin-2 oil and gas development project, of which Shell is the operator, Shell Vice President Hans Van Lamoen said on Wednesday.

Hans Van Lamoen pointed out that Shell was ready to enter into cooperation with Gazprom. However, at present, it was impossible to say in what form and at what stage this will happen.

The deputy head of Gazprom’s governing board, Alexander Ryazanov, said for his part “Gazprom is interested in this project and talks with Shell are now underway.”

The Sakhalin Energy company was established to implement the Sakhalin-2 project. It develops the largest Piltun-Astokhskoye oil field and Lunskoye gas field. The explored reserves total 140 million tonnes and 408 billion cubic meters respectively.

Shell has a 55-percent stake in Sakhalin Energy, while Japanese automaker Mitsubishi and trade company Mitsui share the remaining 45 percent.

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