Sakhalin Energy LLC, operator of Russia's Sakhalin 2 liquefied natural gas plant, seeks new markets and buyers, it said on Friday, after it transitioned into a new legal entity.
Register now for FREE unlimited access to Reuters.comShell, which has already written off the value of its Russian assets, made clear months ago that it intended to quit the project and has been in talks with potential buyers. It has said it was assessing the Russian decree.
Russia's Kommersant newspaper reported on Thursday that Shell will not re-sign its contract to purchase 1 million tonnes of LNG per year from the project. "Today we are actively engaged in the search for new markets and expanding the portfolio of buyers, increasing the competitiveness of Sakhalin LNG," Sakhalin Energy said on Friday, citing CEO Roman Dashkov.
He said that loadings and production of LNG have stayed on schedule and in line with current market conditions.already has a 50% plus one share stake in Sakhalin-2.
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