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Russia extends Sakhalin Energy oil and gas licenses for 5 years

June 22/2020

MOSCOW (MRC) -- Sakhalin Energy, the international operator of a pioneering LNG plant in eastern Russia, said authorities have extended its oil and gas production licenses, which were due to expire in 2021, for five years, reported Reuters.

Sakhalin Energy operates Sakhalin-2, Russias first LNG plant, which came onstream in 2009 with production capacity of around 10 million tons per year.

It said on Thursday it had secured rights to further develop Piltun-Astokhskoye and Lunskoye oil and gas fields in the Sea of Okhotsk, off the eastern island of Sakhalin, until May 19, 2026.

The initial licenses were awarded in 1996 for 25 years.

Equity holders in Sakhalin Energy include Gazprom, Royal Dutch Shell, and Japans Mitsui and Mitsubishi Corp.

As MRC informed earlier, in 2019, SIBUR and Gazprom Neft, part of Gazprom, consolidated 100% of the authorised capital in Poliom, a polypropylene (PP) plant in Omsk. Sibgazpolimer, a joint venture of the two companies, has signed an agreement to acquire a 50% stake in Poliom from the Titan Group.

According to MRC's ScanPlast report, PP shipments to the Russian market totalled 347,440 tonnes in January-April 2020 (calculated by the formula production minus export plus import). Supply exclusively of PP random copolymer increased.


mrcplast.com
Author:Margaret Volkova
Tags:PP, crude and gaz condensate, PP random copolymer, gas processing, petrochemistry, Gazprom, Gazprom neft, Gruppa Kompaniy Titan ZAO, Poliom, Omsk, Sibur Holding, Mitsui, Shell, Rossiya.
Category:General News
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