CORRECTED - Sakhalin-2 loses Western financing, keeps Japanese

(Corrects first paragraph to make clear Sakhalin Energy withdrew applications for funding from creditors, not that creditors pulled out; removes word 'major')

MOSCOW, March 3 (Reuters) - Sakhalin Energy, a group led by Russian gas giant Gazprom (GAZP.MM: Quote, Profile, Research) and involving Shell (RDSa.L: Quote, Profile, Research), said on Monday it was in talks to secure new credits after it withdrew applications for funding from two of its creditors.

"From our point of view, their (ECGD and USExim) involvement in the financing now risks additional delays, and these are not compatible with the company's wishes," Igor Ignatiyev, Sakhalin Energy's Moscow head, told Reuters.

ECGD is a British credit agency and USExim is from the United States. Japan's JBIC will remain Sakhalin Energy's largest lender. Ignatiyev did not disclose the volume of the agencies' financing.

Sakhalin Energy, which is also known by the project name Sakhalin-2, is investing $22 billion in one of the world's largest liquefied natural gas plants on Russia's Pacific island of Sakhalin.

Ignatiyev said construction had been already 90 percent completed and reiterated the group's commitment to start first LNG production "shortly after the end of 2008". (Reporting by Amie Ferris-Rotman, writing Dmitry Zhdannikov)