Revenue of Russian companies from LNG exports up 46% in January-August
Moscow. In January-August 2019, Sakhalin Energy and Yamal LNG increased revenues from exports of liquefied natural gas (LNG) by 46.2% year-on-year to $5,51 bln, according to the Federal Customs Service of Russia.
The volume of LNG exports from Russia over the reporting period increased by 48.9% and reached 39.9 bln cubic meters.
At the same time, in August, LNG exports amounted to 5.6 bln cubic meters (an increase of 17.6% compared to June) and made $549.6 mln, told TASS.
Sakhalin Energy, the Sakhalin-2 project operator, is engaged in the development of the Piltun-Astokhskoye and Lunskoye oil and gas fields on the Sakhalin shelf, the recoverable reserves of which are estimated at 150 mln tonnes of oil and 500 bln cubic meters of gas. Sakhalin Energy's shareholders are Gazprom (50%), Royal Dutch Shell (27.5%), Japanese Mitsui (12.5%), and Mitsubishi (10%).
Yamal LNG (50.1% owned by Novatek, 20% — by French Total and Chinese CNPC each, 9.9% — by the Silk Road Fund) is the first Novatek gas liquefaction plant. The project is being implemented on the basis of the Yuzhno-Tambeyskoye field (Yamal Peninsula) with three production lines for LNG output with a capacity of about 5.5 mln tonnes per year each. The launch of the fourth stage of Yamal LNG is scheduled for Q4 of 2019.