Revenues of Russian gas producer Sakhalin Energy dropped in Q1 2016

Sakhalin Energy

Sakhalin EnergyThe gas company Sakhalin Energy exported 6.3 million cub m liquefied natural gas in Q1 2016, reported the Russian Federal Customs Service. The company revenues for the reported period amounted to 962.3 million USD, which is 1.8 times lowed than an year ago. The low price of commodity is the main reason for the revenues decrease, despite of higher production rates. In comparison in Q1 2015 with volume of 5.9 million cub m, the company made revenues of 1.684 billion USD.

Sakhalin Energy is the operator of Sakhalin-2 project, which is the only one working LNG production plant in Russian federation. Sakhalin-2 operate Piltun and Lunskoye offshore fields on the Sakhalin shelf with recoverable reserves estimated at 150 million tons of oil and 500 billion cubic meters of gas.

The shareholders in Sakhalin Energy are Gazprom (50%), Royal Dutch Shell (27.5%), the Japanese Mitsui (12.5%) and of Mitsubishi (10%).

About the Author

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Svilen Petrov
My name is Svilen Petrov and I’m founder and chief editor at Business News Feeds. Business News Feeds is independent journal, which will daily provide you the most interesting and actual news for companies, employment and management.

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