Sakhalin-2 operator says LNG deliveries as per contracts

MOSCOW, Aug 26 (PRIME) -- Sakhalinskaya Energiya (Sakhalin Energy), the new operator of Russian liquefied natural gas (LNG) project Sakhalin-2, delivers LNG in accordance with the schedule and the contracts, the company said in a statement on Friday.

Bloomberg reported earlier quoting traders that the operator had cancelled delivery to at least one Asian buyer because of problems with payments and delays in signing of updated contracts.

“Sakhalinskaya Energiya LLC … continues operating activity in full in the framework of the production sharing agreement. Production and delivery of hydrocarbons are going on as usual in accordance with the updated schedule and the current market situation,” the company said, adding that it was doing the work in line with the existing contract liabilities.

“We are actively searching for new markets today, and we are expanding the portfolio of buyers, which improves competitiveness of the Sakhalin LNG,” CEO Roman Dashkov said as quoted by the company.

Earlier in August, the Russian government signed a regulation to establish Sakhalinskaya Energiya LLC in the city of Yuzhno-Sakhalinsk that became a new operator of the Sakhalin-2 project on August 19. Russian gas giant Gazprom owned 50% plus one share in the previous operator, while Shell had a stake of 27.5% minus one share, and Japan’s Mitsui and Mitsubishi had the stakes of 12.5% and 10%, respectively.

The government allowed all the companies to receive the same stakes in the new operator that they had in the old one.

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