YUZHNO-SAKHALINSK, September 28. /TASS/. Sakhalin-2 is facing a certain dip in LNG prices, though the discount on the Sakhalin Blend is 2-3 times lower than that on Russian oil, Sakhalin Energy Commercial Director Andrey Okhotkin told a forum on Wednesday.
"As far as LNG is concerned, I won’t hide it, there is a certain dip in prices and there is pressure, buyers are taking advantage of the situation when the market is not that saturated with purchasers and competitive activity, but here as well the situation is improving, we <…> are confident that all our LNG will be in demand. <…> Looking back at the figures quoted as discounts that Russian oil still has relative to global brands, I want to say that the Sakhalin Blend sells much better than the figures quoted. I won’t name them, but it sells 2-3 times better, which reflects our established ties with buyers," he explained.
According to Alexey Gromov, Principal Director on Energy Studies at the Institute for Energy and Finance, the discount on Russian oil has seriously decreased since late spring and early summer.
"Discounts on Russian oil compared with the period of spring and early summer have seriously decreased. Back then, we offered Russian oil with a discount of up to $30 per barrel, whereas by now discounts have dropped to $15-20," he said during the forum.