Sakhalin Energy
| 100px | |
| Type | Private |
|---|---|
| Industry | Oil and gas industry |
| Founded | 1991 |
| Headquarters | Yuzhno-Sakhalinsk, Russia |
| Key people | Andrei Galaev (CEO) |
| Parent | Gazprom |
| Website | www.sakhalinenergy.com |
Sakhalin Energy Investment Company Ltd. (Sakhalin Energy) is a consortium for developing the Sakhalin-II oil and gas project with corporate head office in Yuzhno-Sakhalinsk. The Chief Executive Officer (CEO) is Andrei Galaev. The company's principal 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, Shell was forced by the Russian government to sell part of its stake to Gazprom which made Gazprom the largest shareolder with 50% share of the company.[1][2]
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%
Social Responsibility
In November 2009 Sakhalin Energy joined the United Nations Global Compact. UN Global Compact is the largest international voluntary initiative to promote corporate social responsibility of business. By joining the Global Compact companies and organisations commit to align its operations and strategies with ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption.[3]
References
- ↑ "Transfer of Sakhalin Energy Shares Completed" (PDF) (Press release). Mitsubishi. 2007-04-19. http://www.mitsubishicorp.com/jp/en/pr/archive/2007/files/0000002669_file1.pdf. Retrieved 2011-07-20.
- ↑ White, Garry (2009-06-28). "Russia invites Shell back to Sakhalin as finances plummet". Telegraph. http://www.telegraph.co.uk/finance/newsbysector/energy/5676869/Russia-invites-Shell-back-to-Sakhalin-as-finances-plummet.html. Retrieved 2011-07-20.
- ↑ "Participant Information". United Nations Global Compact. http://www.unglobalcompact.org/participant/8153-Sakhalin-Energy-Investment-Company-Ltd-.
External links
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