Tokyo Gas and Tokyo Electric are the largest buyers of LNG from the Sakhalin-2 project

04.10.2024       

The Prosecutor General's Office is asking to involve the Ministry of Energy, the Sakhalin Region Government, and the new operator of the Sakhalin-2 project, Sakhalin Energy, as third parties. Shell has refused to participate
The Russian Prosecutor General's Office has filed a lawsuit against Shell and its structures: Shell Global Solutions International BV, Shell Exploration And Production Services BV, Shell International Exploration And Production BV, Shell Sakhalin Services BV, Shell Sakhalin Holdings BV, Shell Energy Europe Ltd.
The Russian Shell Neftegaz Development LLC is also listed as a defendant. The department is asking to involve Gazprom Export, Sakhalin Energy LLC, Sakhalin Energy Investment Co. Ltd, the Russian Ministry of Energy and the government of the Sakhalin Region as third parties.
The Moscow Arbitration Court registered the statement of claim on October 2; the essence of the claims is not disclosed.
Before the start of the special operation in Ukraine, Shell owned 27.5% minus one share in Sakhalin Energy Investment Company, the former operator of the Sakhalin-2 liquefied natural gas project. In 2022, as part of President Vladimir Putin's decree on measures in the fuel and energy sector in connection with the "unfriendly actions of foreign states," Sakhalin Energy was created, which took over all the rights and obligations of Sakhalin Energy Investment Company.
The foreign co-owners of Sakhalin-2 had to confirm their participation in the new legal entity. Among them were Japanese Mitsui and Mitsubishi. Shell warned that it would not be among the co-owners of the new operator. In March 2024, a 27.5% stake in Sakhalin Energy was purchased by Gazprom's subsidiary, Sakhalin Project, for 94.8 billion rubles. As a result, Gazprom's share in Sakhalin Energy was reduced by 1.5%. increased to 77.5%.
RBC

The Northeast Asian market remains key in the structure of liquefied natural gas (LNG) sales for the Sakhalin-2 project, with Japan accounting for about 60% of LNG sales in 2023. This was announced at the Far Eastern Energy Forum by Leonid Aleksandrov, Head of LNG Marketing and Sales at Sakhalin Energy (operator of the Sakhalin-2 project). "Our project supplies LNG primarily to Northeast Asia,"This is a specific geographic region, a segment of the world market. We have been present in this market since March 2009, when the first batch of LNG from our plant was shipped to our main buyer - Tokyo Gas and Tokyo Electric. And since then, Japan has traditionally remained our key sales market, about 60% of our supplies are reliably and safely delivered to Japan," Aleksandrov noted.

XVII Conference "Contracts on the Oil and Gas Shelf", Neftegazshelf-2024, October 31, 2024