Introduction

In the middle of February 2009, within the framework of the Sakhalin-2 project, the first LNG plant in Russia was commissioned. The opening ceremony was attended by Russian President Dmitry Medvedev, who praised the work done by the project's shareholders and expressed satisfaction with the fact that Russia had become a member of the LNG exporters club. It is common knowledge that the Sakhalin-2 project was implemented under the terms of a production-sharing agreement (PSA). The parties to this PSA are the Russian Federation, as the owner of the energy resources in place, and ...