Sakhalin Energy
Encyclopedia
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).
, 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.
Sakhalin-II
The Sakhalin-2 project is an oil and gas development in Sakhalin Island, Russia. It includes development of the Piltun-Astokhskoye oil field and the Lunskoye natural gas field offshore Sakhalin Island in the Okhotsk Sea, and associated infrastructure onshore. The project is managed and operated...
oil and gas project with corporate head office in Yuzhno-Sakhalinsk
Yuzhno-Sakhalinsk
-Demographics:Most residents are ethnic Russians, but there also exists a sizable population of Koreans. Of the 43,000 Sakhalin Koreans, half are estimated to live in Yuzhno-Sakhalinsk, comprising roughly 12% of the city's population...
. 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, McDermottMcDermott
McDermott is a surname, and may refer to:* Alice McDermott, writer* Alister McDermott, cricketer* Andy McDermott, author* Bill McDermott, executive* Brian McDermott, rugby coach* Brian McDermott, football manager of Reading...
, Mitsui
Mitsui
is one of the largest corporate conglomerates in Japan and one of the largest publicly traded companies in the world.-History:Founded by Mitsui Takatoshi , who was the fourth son of a shopkeeper in Matsusaka, in what is now today's Mie prefecture...
and Russian Federation as MMM Consortium. Shell
Royal Dutch Shell
Royal Dutch Shell plc , commonly known as Shell, is a global oil and gas company headquartered in The Hague, Netherlands and with its registered office in London, United Kingdom. It is the fifth-largest company in the world according to a composite measure by Forbes magazine and one of the six...
and Mitsubishi
Mitsubishi
The Mitsubishi Group , Mitsubishi Group of Companies, or Mitsubishi Companies is a Japanese multinational conglomerate company that consists of a range of autonomous businesses which share the Mitsubishi brand, trademark and legacy...
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
Shetland Islands
Shetland is a subarctic archipelago of Scotland that lies north and east of mainland Great Britain. The islands lie some to the northeast of Orkney and southeast of the Faroe Islands and form part of the division between the Atlantic Ocean to the west and the North Sea to the east. The total...
, and an eight block area in the Gulf of Mexico—including the Ursa field) in 2000.
In 2007, Shell
Royal Dutch Shell
Royal Dutch Shell plc , commonly known as Shell, is a global oil and gas company headquartered in The Hague, Netherlands and with its registered office in London, United Kingdom. It is the fifth-largest company in the world according to a composite measure by Forbes magazine and one of the six...
was forced by the Russian government to sell part of its stake to Gazprom
Gazprom
Open Joint Stock Company Gazprom is the largest extractor of natural gas in the world and the largest Russian company. Its headquarters are in Cheryomushki District, South-Western Administrative Okrug, Moscow...
which made Gazprom the largest shareolder with 50% share of the company.
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%
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.External links
- Sakhalin Energy website
- Sakhalin Energy on YouTubeYouTubeYouTube is a video-sharing website, created by three former PayPal employees in February 2005, on which users can upload, view and share videos....