Russia's state-run gas monopoly OAO Gazprom (GAZP.RS) will delay its first exports of liquified natural gas, or LNG, from its Sakhalin-2 project in Russia's Far East to the end of 2009, Alexander Medvedev, head of Gazprom's export arm, said Wednesday.
"We will start our first LNG shipments by end of next year at the latest," Medvedev said.
Sakhalin Energy, the operator of the project, controlled by Gazprom with Royal Dutch Shell PLC (RDSA), Mitsui & Co Ltd. (MITSY) and Mitsubishi Corp. (MSBHY) as minority shareholders, said last year it would ship its first LNG to exports markets by spring 2009.