Novak said there were no applications for Shell’s share in Sakhalin-2
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Russia has not yet received applications from those wishing to acquire Shell’s (27.5%) stake in the oil and gas project “Sakhalin-2”, said Deputy Prime Minister Alexander Novak, transmits TASS.
“So far there are no applications for this. But there is still enough time, the reorganization procedures are going to the end. When they are completed, then certain applications will already appear,” he said.
The vice-premier also stressed that the damage assessment from the activities of foreign shareholders on the project would be completed in the near future.
In December the government appreciated Shell’s share of 94.8 billion rubles.
At the end of June 2022, Russian President Vladimir Putin signed a decree “On the application of special economic measures in the fuel and energy complex in connection with the unfriendly actions of certain foreign states and international organizations.” In accordance with it, all rights and obligations of the former operator of the Sakhalin-2 project, Sakhalin Energy Investment Company Ltd. were transferred to a specially created Sakhalin Energy LLC. The new operator announced the start of work on August 19.
The owner of the controlling stake in the Russian company was “Gazprom“. Earlier in the PSA project, Gazprom owned 50% plus 1 share, Shell – 27.5% minus 1 share, Japanese Mitsui and Mitsubishi – 12.5 and 10% respectively. On September 1, Shell refused to participate in the new operator, but the Japanese companies preferred to keep their stakes in the project.
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