Japan plans to keep shares in Sakhalin-2 after the transfer of the project to Russian jurisdiction
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Japan still intends to keep shares in Sakhalin-2, said Minister of Economy, Trade and Industry Koichi Hagiuda. President Vladimir Putin formerly signed Decree on the transfer of the Sakhalin Energy project operator to Russian jurisdiction. Current shareholders must agree within a month to receive a stake in a new Russian LLC.
“As for the Sakhalin-2 project, the position on continuing to preserve our interests has not changed,” said Mr. Khagiuda (quoted by RIA Novosti).
Since 1994, Sakhalin-2 has been implemented on the basis of a production sharing agreement. Shares in the project belong to Gazprom (50% plus one share), Shell (27.5%), Mitsui (12.5%) and Mitsubishi (10%). Shell has already stated that it is looking for a way to exit the project. Sakhalin-2 supplies over 8% of Japan’s LNG needs.
The Government of the Russian Federation on the eve, August 3, ordered to register in Yuzhno-Sakhalinsk a new operator for the Sakhalin-2 oil and gas project. The operator will be given the name Sakhalin Energy LLC.
More details – in the material “Kommersant” “Japan risks losing gas”.
More news in Telegram channel “Kommersant”.
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