Sakhalin Energy Investment Company Ltd. (Sakhalin Energy) is a consortium for developing Sakhalin-II oil and gas project with corporate head office in Yuzhno-Sakhalinsk. The Chief Executive Officer (CEO) is Ian Craig. The company's principle activities are the production and export of oil (since 1999) and liquefied natural gas (from 2009).

History

The original consortium was formed in 1991 by Marathon, McDermott, Mitsui and Russian Federation as MMM Consortium. Shell and Mitsubishi joined the consortium in 1992, to make it MMMMS. In April 1994, the consortium (excluding Russian Federation) formed Sakhalin Energy Investment Company Ltd. to develop and manage the Sakhalin II project. McDermott sold its share to the other partners in 1997 and Marathon traded its share to Shell for other properties (the BP operated Foinaven field, near the Shetland Islands, and an eight block area in the Gulf of Mexico—including the Ursa field) in 2000.

In 2007, Gazprom purchased a 50% share of the company and became a leading shareholder.

Shareholders

The current shareholders are:

• Gazprom Sakhalin Holdings B.V. (subsidiary of Gazprom) - 50% plus 1 share
• Shell Sakhalin Holdings B.V. (subsidiary of Royal Dutch Shell) - 27.5% minus 1 share
• Mitsui Sakhalin Holdings B.V. (subsidiary of Mitsui)- 12.5%
• Diamond Gas Sakhalin (subsidiary of Mitsubishi) - 10%

References

External links

• Consortium website