Sakhalin LNG export plant on course for first export in 2008

Jul 05, 2007 02:00 AM

Sakhalin Energy, a consortium led by Russian gas giant Gazprom, said the Prigorodnoye liquefied natural gas plant in the Sakhalin island is on track to start exporting next year.
An LNG cargo -- the first of the two shipments that will be used for the facility's commissioning and testing -- arrived at the site, located in the south of the island, it said.

Frank van Wijk, who is in charge of the start-up and commissioning operations at the plant, said the arrival of the LNG tanker "signifies that the end of the construction phase is drawing near and we are beginning the transition to operations."
This is a key step towards (delivering the) first LNG export in 2008," he said.

The LNG plant, Russia's first, is a key component of the $ 20 bn Sakhalin-II project, which has been delayed by cost overruns and other construction problems. It will be exporting LNG mainly to Japan and South Korea.
Gazprom took control of the project under a $ 7.5 bn deal with operator and key investor Royal Dutch Shell last year. The deal gave Gazprom a 50-%-plus-one share stake in Sakhalin-II, thus halving other shareholders' interest to 27.5 % for Shell, 12.5 % for Mitsui & Co Ltd and 10 % for Mitsubishi Corp.

Source / AFX News Limited
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