Sakhalin Energy CEO elected head of UN Global Compact's Russia network
(Quotes transcribed from original English)
YUZHNO-SAKHALINSK, Russia. March 9 (Interfax) - Sakhalin Energy, operator of the Sakhalin-2 oil and gas project in Russia, on Wednesday said its chief executive, Andrei Galayev, was elected on March 4 as chairman of the Steering Committee of UN Global Compact Network Russia.
Galayev "was nominated for the post by UN Development Programme (UNDP) Representation in the Russian Federation. The nomination was supported by the Russian Union of Industrialists and Entrepreneurs and unanimously approved by Steering Committee members," Sakhalin Energy said in a statement.
"Election of Sakhalin Energy's CEO as Chairman of the collegiate steering authority of UNGC Network Russia is yet another testament to recognition of the continuing efforts the Company exerts in the area of sustainable development," it said.
The stakeholders of Sakhalin Energy are Gazprom , which holds half the company's capital, British-Dutch group Royal Dutch/Shell (27.5%), and Japan's Mitsui (12.5%) and Mitsubishi (10%).
Sakhalin-2 involves the development of the Piltun-Astokhskoye and Lunskoye offshore fields near Sakhalin Island, which have total estimated recoverable reserves of 150 million tonnes of oil and 500 billion cubic meters of gas.
