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Sakhalin Energy May Keep Additional LNG Cargoes to Japan in 2012

Sakhalin Energy Investment Co., operator of Russia’s only liquefied-natural-gas plant, plans to continue shipping additional volumes of the fuel to Japan next year to help replace damaged nuclear capacity.

The Sakhalin-2 plant, which is operating beyond its full capacity of 9.6 million tons of LNG a year, has supplied extra cargoes this year, mainly to Tokyo Electric Power Co. and Tohoku Electric Power Co Inc., Andrey Okhotkin, Sakhalin Energy’s commercial director, said today in Yuzhno-Sakhalinsk, the closest large city to the plant on Sakhalin Island.

Demand for the gas cooled to a liquid and transported by ship soared after the Fukushima Dai-Ichi nuclear disaster in March. Sakhalin Island lies north of Japan.

OAO Gazprom, which controls the Sakhalin LNG plant, has shipped 325,000 tons of additional LNG to Japan since the accident, Deputy Chief Executive Officer Alexander Medvedev said yesterday.

Singapore is most likely to become a physical hub for LNG in the future, Okhotkin said.

--With assistance from Anna Shiryaevskaya in Moscow. Editors: Torrey Clark, Randall Hackley

Yuriy Humber

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