Russian Prime Minister Mikhail Kasyanov has discussed with the head of Shell the possibility of new investments. Shell has invited Gazprom to participate in developing an oil and gas project near the Far East Sakhalin Island. A source in Shell’s Moscow office said that details of Gazprom’s participation in the huge Sakhalin-2 project, in which Royal Dutch Shell holds a 55 percent stake, were subject for further discussion. Royal Dutch Shell already has invested up to USD 2 billion in the project, together with its Japanese partners Mitsui and Mitsubishi. It plans to raise investment to some USD 10 billion over the next few years to build the world’s largest liquid natural gas plant. Among other issues discussed were prospects to jointly explore the vast Arctic Zapolyarnoye gas field operated by Gazprom. A joint venture to explore Zapolyarnoye could be set up in 2002 and gas supplies to Europe from the field could start in 2006.
For more projects, subscribe to our Project Preview Newsletter
