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Gazprom and Shell continuing joint work on Sakhalin 2 project

This year the companies signed an Agreement of Strategic Cooperation for a 5-year period

Gazprom and Shell continuing joint work on Sakhalin 2 project

Source: Gazprom Press Office

St.Petersburg, September 23 - Neftegaz.RU. A working meeting between Alexey Miller, Chairman of Gazprom, and Ben van Beurden, CEO of Shell, took place via a video link.
The parties reviewed current issues pertaining to their joint activities, including the Sakhalin 2 project.

Gazprom and Shell are jointly engaged in the project, which includes Russia's 1st LNG plant.
The Sakhalin 2 project operator is Sakhalin Energy.
It is owned by Gazprom (50% + 1 share) and Shell (27.5 % – 1 share).
Last year, a record-high volume of LNG – over 11.6 million tons – was produced and shipped to customers under the project.

Besides Sakhalin 2 activities, Miller and van Beurden also discussed the efforts of the 2 companies in reducing their carbon footprint across the LNG value chain.
Natural gas, due to its eco-friendliness, can play a significant role in meeting Europe's climate goals.

Miller and van Beurden paid particular attention to the situation in the European gas market.
Russia is one of the main suppliers of natural gas to the European market.

This week, the IEA called on Russia to send more gas to Europe as the energy supply crunch bleeds across the continent.
The Paris-based agency noted that Russia could do more to increase gas availability to Europe and ensure storage is filled to adequate levels in preparation for the coming winter heating season.

The European gas market could well face further stress tests from unplanned outages and sharp cold spells, especially if they occur late in the winter.
Gas storage levels in Europe are well below their 5-year average.

To read the news in Russian

Author: Elena Alifirova

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