The government approved the plan for gasification of Kamchatka
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What is Sakhalin-2
The Sakhalin-2 project is being implemented on the Sakhalin shelf under a production sharing agreement (PSA). It provides for the development of the predominantly oil Piltun-Astokhskoye and predominantly gas Lunskoye fields. As part of the project, an LNG plant with a capacity of 11.5 million tons per year is operating. In 2022, LNG production at the project increased by 10.5% to 11.5 mmt, while oil production decreased by 11.9% to 3.7 mmt.
In June 2022, Russian President Vladimir Putin signed a decree according to which the rights and obligations of the former operator of Sakhalin-2, Sakhalin Energy Investment Company Ltd. transferred to Sakhalin Energy LLC. In Sakhalin Energy Investment, Gazprom owned 50% plus 1 share, Shell – 27.5% minus 1 share, Japanese Mitsui and Mitsubishi – 12.5% and 10% respectively. The new operator announced the start of work on August 19, 2022. Gazprom also became the owner of a controlling stake in Sakhalin Energy. On April 12, the government approved the sale of 27.5% in Sakhalin Energy (corresponding to Shell’s stake in the project) to Novatek for 94.8 billion rubles.
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