Russia’s Sakhalin Energy, the operator of the Sakhalin-2 LNG plant, said on Thursday its oil and gas licenses have been extended for another five years, Kallanish Energy reports.
The joint venture between Gazprom, Shell, Mitsui, and Mitsubishi was granted an extension on its development licenses for the Piltun-Astokhskoye and Lunkskoye fields in the Sea of Okhotsk, off the eastern island of Sakhalin.
It now holds rights to explore and produce the offshore fields until 19 May 2026, following a two-year application process. Under the Sakhalin-2 Production Sharing Agreement, the company can extend the licenses for five-year periods. If approved, a further extension would enable the acreage to be developed until 2031.
Commissioned in 2009, the Sakhalin-2 LNG project was the first LNG plant in Russia. The facility has the capacity to produce 9.6 million tonnes per annum of LNG.
