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Gazprom will pay cash to Royal Dutch Shell and its Japanese partners for a controlling stake in the Sakhalin II LNG project, according to officials in Moscow.
Gaz de France and Gazprom have agreed to boost cooperation on LNG and signed pipeline gas deals worth about $85 billion.
The Royal Dutch Shell-led Broadwater LNG project to be located in Long Island Sound, off New York State, will be the subject of four days of public hearings starting on January 9 after the venture last month received initial environmental approvals.
Statoil, the owner of Europe’s first LNG production venture that comes on stream in 2007, has announced an agreement to take over the natural gas and oil activities of Norwegian rival Hydro in a deal worth around $28 billion.
Indonesia, the world's largest LNG exporter, has decided not to renew a contract to supply Taiwan and will again reduce deliveries to South Korea and Japan in 2007 as its natural gas output falls and domestic demand rises.
Distrigas, the Belgian natural gas distributor, has begun LNG imports from Qatar, with cargoes delivered into the Zeebrugge terminal.
Woodside Energy, the Australian operator of the North West Shelf LNG venture, said the project partners and Tokyo Gas Co. (Togas), Japan’s largest utility, have signed a heads of agreement for additional supplies.
Mitsui & Co., the Japanese trading house with a 25 percent stake in the Sakhalin II LNG project, has nothing against Gazprom becoming a major shareholder of the project.
The Western Australian Government has approved the US$11 billion Chevron-led Gorgon liquefied natural gas project on Barrow Island offshore Australia.
Royal Dutch Shell and its two Japanese partners in the $20-billion Sakhalin II LNG project in the Russian Far East have offered to cede control to Gazprom after months of pressure and legal threats.
