A ceremony was held in Moscow, Russia on April 18, 2014, to celebrate the 20th anniversary of Sakhalin Energy Investment Company Ltd. (Sakhalin Energy), the Sakhalin II project operator which is partly owned by Mitsui & Co. Ltd. (12.5% share).
Mitsui & Co. Senior Executive Managing Officer Hiroyuki Kato gave a congratulatory speech at the lavish ceremony, which had a total of 200 guests in attendance including representatives of partner companies such as Gazprom Deputy Chairman of the Management Committee Alexander Medvedev and Royal Dutch Shell plc CEO Ben van Beurden, as well as Russian government officials and Japanese LNG buyers. A message of congratulations was also received from President Vladimir Putin, for Sakhalin Energy's contribution to the development of Russia's oil and gas industry and the development of the Russian Far East.
Sakhalin Energy began year-round production of crude oil in 2008, and launched LNG shipments from 2009. By March 2014, its total cumulative LNG production volume reached 50 million tons. It currently produces around 11 million tons per annum, of which around 80% is shipped to Japan, making up around 10% of Japan's total annual import volume. Mitsui & Co. will continue to support stable operations of the project, and at the same time actively pursue the expansion of the facility with the construction of a third LNG production train(*).
*Note regarding third LNG production train: Operations at the first and second production trains had commenced in 2009, and development of the third LNG production train is currently under consideration.