Gazprom wants active role in Sakhalin projects

Russia’s Gazprom, using opportunities gleamed from its merger with Rosneft, is reportedly after an active role in all of the massive Sakhalin Island oil and gas projects, despite an expected downgrading of its investment in the BP Plc-owned Kovykta project if successful.
Gazprom wants active role in Sakhalin projects Gazprom wants active role in Sakhalin projects Gazprom wants active role in Sakhalin projects Gazprom wants active role in Sakhalin projects Gazprom wants active role in Sakhalin projects

In an interview with Interfax Gazprom head Sergei Kupriyanov said, “Rosneft has a 20% share in Sakhalin-1 and is the authorized company under a production sharing agreement and Gazprom will capitalize on that.”

“Because Sakhalin will apparently be a priority for Gazprom, the company’s interest in the Kovykta project will decline, since we considered this project not sufficiently developed. Gazprom has received offers to join the Kovykta project [but] the company has not begun talks on the project, which [we consider] high risk,” he added.

The Sakhalin-1 project consists of Exxon Neftegaz (30%), Rosneft (20%), ONGC (20%), and Sodeco (30%). Sakhalin-2 is operated by Sakhalin Energy, a JV formed by Royal Dutch/Shell (55%), Mitsui (25%), and Mitsubishi (20%). The RUSIA Petroleum consortium is licensed for Kovykta and is made up of TNK-BP (63%), the Irkutsk region government (10.78%), and Interros (25.82%).

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