Putin canceled the time frame for the sale of Shell’s share in the Sakhalin-2 operator
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Russian President Vladimir Putin decree changed the terms for the sale of Shell’s share in the new Sakhalin-2 operator. The head of state canceled the request for her transfer within four months.
Shell announced plans to withdraw from the Sakhalin-2 project after the start of military operations in Ukraine. On June 30, Russian President Vladimir Putin signed a decree establishing a Russian project operator, Sakhalin Energy. Foreign institu- tions could retain their stakes in the project after submitting a respective application. Shell refused, admitting a $1.614 billion impairment loss on the project.
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