Administration of Sakhalin and Korea Gas Corporation agree on cooperation

The administration of Sakhalin and Korea Gas Corporation, a South Korean gas company, made an agreement of cooperation in line with the Sakhalin-2 project. As the press center of the Sakhalin administration reported, the cooperation agreement was reached during the meeting of Sakhalin governor Igor Farkhutdinov with the representatives of the company. As it was reported earlier, Sakhalin Energy, the operator of the Sakhalin-2 project, is planning to launch facilities extracting natural gas and distributing it in a liquidized state. This gas will be supplied to the consumers of the Far East region, in particular, to Japan, South Korea and possibly China. The Sakhalin-2 project envisages the exploration of the Lunsk and Piltun-Astokhsk deposits located on the sea shelf of Sakhalin. The total reserves of the deposits amount to 140 million tons of oil and 550 billion cubic meters of gas. The participants of the project are Shell, a UK-Dutch company (55 percent), Mitsui (25 percent) and Mitsubishi (20 percent), Japanese companies.

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