Gazprom and Shell have working meeting within Expo Milano 2015
Milan hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Ben van Beurden, Chief Executive Officer of Shell.
The parties addressed the prospects for cooperation in the oil and gas sector and the current situation in the European and LNG markets, as well as the status of Sakhalin II and the future collaboration within the project.
Background
Shell is a British-Dutch oil and gas company focused on hydrocarbon production, processing and marketing in over 90 countries worldwide.
As part of Sakhalin II, Russia’s first LNG plant with the annual capacity of 9.6 million tons of LNG was commissioned in 2009. Sakhalin Energy is the Sakhalin II project operator with the ownership distributed among Gazprom (50 per cent plus one share), Shell (27.5 per cent minus one share), Mitsui & Co. (12.5 per cent) and Mitsubishi Corporation (10 per cent). The plant produced 10.7 million tons of LNG in 2014.
In 2014 Gazprom and Shell signed the memorandum-roadmap to prepare FEED documents for the third LNG production train within the Sakhalin II project.
In 2013 Gazprom and Shell signed the Memorandum outlining the principles of cooperation within hydrocarbon exploration and development in Russia’s Arctic shelf and a part of deepwater shelf abroad.
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