Russian gas giant OAO Gazprom may send its first shipments of liquefied natural gas, or LNG, from the Sakhalin-2 project to North America this winter.
Russian gas giant OAO Gazprom may send its first shipments of liquefied natural gas, or LNG, from the Sakhalin-2 project to North America this winter, the company said in an interview. "We may see the first shipments to North America during the winter period," said Frederic Barnaud, LNG director at U.K.-based Gazprom Marketing and Trading.
Sakhalin-2, located in Russia's Far East close to Japan, launched an LNG terminal - Russia's first - in February this year. Most of the LNG is contracted to Japan and South Korea with the rest sent as spot market transactions to China and India.
Gazprom, the world's biggest producer of natural gas, is also keen to gain foothold on the U.S. gas market, Barnaud said.
Next year, the project will reach full production capacity of 9.6 million metric tons of LNG, of which the bulk is contracted for delivery into Asia.
Gazprom holds 50% plus one share in the Sakhalin-2 holding company Sakhalin Energy. Royal Dutch Shell has 27.5%, Mitsui & Co. Ltd. (8031.TO) has 12.5% and Mitsubishi Corp. (8058.TO) 10%.