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ITAR-TASS: Gazprom confirms interest in Sakhalin-2 project

07.11.2006, 17.44 
 
MOSCOW, November 7 (Itar-Tass) — Gazprom will resume negotiations on the accession to the Sakhalin-2 project with Shell, Mitsiu and Mitsubishi, Deputy CEO Alexander Medvedev said on Tuesday.

“We will resume the negotiations as soon as we clarify two things, namely larger expenditures, which will naturally have an effect on the economic aspect of the project, and environmental safety,” he said.

Gazprom started the negotiations back in 2004, yet the decision to double the expenditures became a stumbling stone.

Sakhalin-2 is a production sharing project of the development of the Piltun-Astokhskoye and Lunskoye fields with the overall reserves of more than 150 million tonnes of oil and 500 billion cubic meters of gas.

British-Dutch Shell (55%) and Japan’s Mitsui (25%) and Mitsubishi (20%) are partners in the project.

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