18th February, 2009
The Duke of York holds talks with the Russian President, Dmitry Medvedev, on Energy and Business issues
The Duke of York visited the Russian Far East this week to congratulate a consortium including the Anglo-Dutch energy giant, Shell, on the opening of Russia’s first Liquefied Natural Gas (LNG) plant. The project, on the island of Sakhalin, is the world’s largest integrated gas and oil development. Shell holds a 27.5% stake in the operating company, Sakhalin Energy, as part of a total investment of more than $22 billion. The Duke has a longstanding interest in the Sakhalin II project, which he first visited in 2004.
Speaking at the opening ceremony, the Duke praised the work of Sakhalin Energy as a fine example of international co-operation in the energy sector. He added that many British companies continued to want to work with Russia in the long-term, despite the current economic climate.
Following the ceremony, the Duke held bilateral talks with the Russian President, Dmitry Medvedev, later described as "friendly and productive". Discussions focused on the success of Sakhalin II and ways in which the UK and Russia might continue to work together to help find solutions to the global economic crisis.
