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Sakhalin Governor Says Expansion Eyed for Sakhalin 1 LNG Export Terminal

Sakhalin Governor Says Expansion Eyed for Sakhalin 1 LNG Export Terminal
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Τρι, 28 Ιανουαρίου 2014 - 18:31
A liquefied natural gas export terminal planned as part of the Sakhalin 1 project in Russia's Far East may double its liquefaction capacity to 10 million metric tons a year, Sakhalin's governor said Tuesday.
A liquefied natural gas export terminal planned as part of the Sakhalin 1 project in Russia 's Far East may double its liquefaction capacity to 10 million metric tons a year, Sakhalin 's governor said Tuesday.

"I'm sure Sakhalin 1 can secure sufficient finance and feedstock gas. Both Rosneft and Exxon Mobile have large amounts of reserves, and they are respected, reliable companies," Gov. Alexander Horoshavin said in a news conference in Tokyo , showing his confidence in the scale of reserves available to support an additional train of 5 million tons a year.

The Sakhalin 1 project is owned 30% by Exxon Mobil Corp. (XOM), the operator, 20% by Russian state oil firm OAO Rosneft (ROSN.RS), 30% by Japanese consortium Sakhalin Oil and Gas Development Co. and 20% by India 's Oil & Natural Gas Corp. (500312.BY). Despite starting shipments of crude oil in 2006, little use has been made of its gas because the partners have failed to agree on how and to whom to sell the gas.

Last February, Rosneft announced a plan to build an LNG export terminal with a capacity of 5 million tons and to start exporting the gas from 2018.

In November, Russia 's parliament paved the way for Rosneft to go ahead with the move by liberalising LNG exports, a privilege that had previously been granted only to OAO Gazprom, though the permission for Rosneft is limited to offshore deposits.

 Sakhalin Island , north of Japan , has long been seen as a major potential energy resource for Japan , which relies on imports for virtually all of its fossil fuel needs. That need has heightened since the March 2011 nuclear power plant accident at Fukushima Daiichi led to the idling of all of Japan 's 50 nuclear power reactors.

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