Sakhalin Energy’s 2011 Sales Rose by $1 Billion, Vedomosti Says

Sakhalin Energy, Russia’s liquefied natural-gas producer, increased its revenue by $1 billion last year after raising prices, Vedomosti reported today, citing Chief Executive Officer Andrey Galayev.

The project may break even as soon as this spring rather than in 2013 or 2014, as initially planned, Galayev told the Moscow-based newspaper.

OAO Gazprom has a 50 percent stake in Sakhalin Energy.

To contact the reporter on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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