OREANDA-NEWS. June 21, 2010. Within the framework of the St. Petersburg International Economic Forum 2010 Alexey Miller, Chairman of the Management Committee of Gazprom held a working meeting with Peter Voser, Chief Executive Officer of Royal Dutch Shell.

The parties discussed development prospects for the companies’ cooperation in the global energy market and the Yamal Peninsula projects. In particular, the negotiations focused on progress with the Sakhalin II project implementation; as well as on joint exploration, production and processing of oil and gas, including for the European market.

Alexey Miller and Peter Voser agreed to hold regular consultations between the companies. The next meeting is scheduled for this September.

As Alexey Miller noted during the meeting, “long-term and practical cooperation between Gazprom and Shell has been successfully ongoing for many years now, which lays the basis for future sustainable development”.
Background

Royal Dutch Shell is a British-Dutch petroleum company dealing with hydrocarbons production and processing in more than 40 countries of the world.

On April 18, 2007 Gazprom and the shareholders of Sakhalin Energy (Royal Dutch Shell plc, Mitsui & Co. Ltd and Mitsubishi Corporation) signed the Purchase and Sale Agreement. In accordance with the Agreement Gazprom acquired a 50 per cent plus one share stake in Sakhalin Energy being the Sakhalin II project operator.

In early 2009 as part of the project Russia’s first LNG plant was commissioned paving the way for Russian liquefied natural gas exports, which began the same year. The plant is supposed to reach the projected capacity (9.6 million tons per annum) in 2010.