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The Government of the Russian Federation extended the period for receiving revenues for the Sakhalin-2 project on the terms of the PSA
The Russian government has extended the deadline for receiving income from the implementation of the production sharing agreement (PSA) for the Sakhalin-2 project until 2018, the press service of the Government reports.
The corresponding order was prepared by the Ministry of Energy. It amends the government order from 6 September 2011 of the year, and extends the validity of its provisions to 31 December 2017, due to the fact that the development of the Kirinsky gas condensate field on the Sakhalin shelf has not reached its design capacity.
By order of the government, the Ministry of Energy of the Russian Federation instructs to prolong the agreement with OAO Gazprom on the assignment of rights to receive income in kind (natural gas) due to the Russian Federation under the Sakhalin-2 project until the specified time.
In accordance with the Eastern Gas Program, the resources of the Kirinsky gas condensate field should be directed to the gasification of consumers in the Far East. In October 2013, Gazprom began production of natural gas at the Kirinskoye field. But the field is still operated in pilot industrial mode, since during its development, underwater mining complexes are used for the first time in domestic practice.