| ST PETERSBURG, August 20. St Petersburg's Star-Energetics
(Zvezda-Energetika), which builds machinery for the energy industry, will
have a role in the project Sakhalin-2. It will build a modern, 19.2 megawatt
diesel-fueled, automatically controlled electricity generating station
in the Sakhalin village of Prigorodnoye, the company announced at a press
briefing Monday. A contract for the delivery, erection and commissioning
of the station has been signed.
As part of the second stage of Sakhalin-2, the Sakhalin Energy Investment Co.
is building Russia's first, and the world's most powerful, plant to liquefy
natural gas, with an annual capacity of 9 million tons. It will consist
of two technological lines, four reservoirs and a harborage from which
the natural gas will be loaded into tankers. The loading will be carried
out four kilometres from the shore. Possible customers for Sakhalin natural
gas include Japan, Korea, Taiwan and China. Sakhalin-2 is likely to use
the Piltun-Astokhodskoye petroleum source (estimated capacity: 140 million
tons) and the Lunskoye condensed-gas source (410
billion cubic metres of gas), both on Sakhalin's continental shelf in
the Sea of Okhotsk.
Star-Energetics was founded in 2001 with a charter capital of about
$34,000 and 100 shares, all owned by Gazpromenergomash and Finek-Consult.
The net profits of Star-Energetics (St Petersburg) in 2002 were 7.2 times
higher than the figure for 2001 and came to approximately $330,000. Expected
company revenues for 2003 are projected to reach $30 million.
See also:
Production
Sharing Agreements (PSAs)
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