Sakhalin Island LNG opens
Russia has this week opened its first liquefied natural gas plant (LNG) on Sakhalin Island, to supply mostly Asian markets with 1.3 million cubic feet of gas per year.
Sakhalin-2 fields have recoverable reserves approaching 17.6 trillion cubic feet of natural gas, while oil reserves are estimated at 1.1 billion barrels.
It’s thought that Japan will purchase around 65% of the LNG from Sakhalin, though South Korea and the US are believed to have signed contracts with Russia for gas purchases as well.
$quot;I am positive the new plant will change our gas export opportunities,$quot; said Russian President Dmitry Medvedev, who attended an unveiling ceremony with Japanese Prime Minister Taro Aso.
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