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Gazprom eyes deal with Exxon on Sakhalin in 2010
December 28, 2009 / 8:35 AM / 8 years ago

Gazprom eyes deal with Exxon on Sakhalin in 2010

KOZMINO, Russia, Dec 28 (Reuters) - Russia’s Gazprom (GAZP.MM) expects to wrap up a deal on gas supplies from the ExxonMobil (XOM.N)-led Sakhalin-1 project next year, Gazprom’s deputy head told reporters on Monday.

The Russian energy giant has said it needs gas from Sakhalin-1 to feed industrial growth in the Far East.

“I think we will come to an agreement in 2010,” Alexander Ananenkov said on the fringes of a ceremony to mark the launch of Russia’s new Pacific oil terminal that will allow the world’s largest energy producer to service Asian markets. [ID:nLDE5BR00F]

ExxonMobil has said it is studying all options for selling gas from Sakhalin-1, which is owned by a consortium that also includes Russian oil firm Rosneft (ROSN.MM), Japan’s Itochu (8001.T) and Marubeni (8002.T) and India’s ONGC (ONGC.BO).

Ananenkov said Gazprom wants to buy up to 8 billion cubic metres (bcm) of gas annually from the second stage of Sakhalin-1 development.

He also said the firm will increase estimated gas reserves at Kirinsky field, which is a part of Sakhalin-3 project, to 100 bcm from the current 75.4 bcm estimate. Gazprom is set to commission the field in 2014. (Reporting by Gleb Bryanski; writing by Vladimir Soldatkin; editing by Chris Pizzey)

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