Formed in 1994 to operate Sakhalin-2 Project, Sakhalin Energy Investment Company Ltd. (Sakhalin Energy) is a unique partnership drawing upon global oil and LNG expertise and experience. On April 18, 2007 the shareholders of Sakhalin Energy signed a Sale and Purchase Agreement with OAO Gazprom (Gazprom), to trigger the transfer of shares in Sakhalin Energy. Under the new shareholding structure of Sakhalin Energy, Gazprom holds 50% plus one share, Shell 27.5%, Mitsui 12.5% and Mitsubishi 10%.
Sakhalin Energy remains the operator of the Sakhalin-2 Project, which will continue to be governed by the Production Sharing Agreement signed in 1994 between the Russian Federation and Sakhalin Energy.
OAO Gazprom is the world's largest gas company focusing on geological exploration, production, transmission, storage, processing and marketing of gas and other hydrocarbons.
Shell is a worldwide group of oil, gas and petrochemical companies with interests in biofuels, wind and solar power and hydrogen. Shell is a global leader in developing LNG projects, with the experience of developing five LNG projects around the world. Shell will help meet global energy demand in economically, environmentally and socially responsible ways.
Both Mitsui and Mitsubishi are leading Japanese trading houses. Mitsui is a significant player in global exploration and production with assets in the middle east, Asia, Oceania, US, Africa and Russia. Mitsui is currently participating in seven LNG projects supplying to the world LNG markets including Japan. Mitsubishi now handles approximately 50% of LNG imported to Japan through eight projects in six countries.