Shell notified the Russian government of its withdrawal from the Sakhalin-2 project
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The Anglo-Dutch company Shell notified the Russian government and partners of its decision to refuse to participate in the new operator of the project “Sakhalin-2“, informed TASS with reference to the company’s statement.
“Shell will not participate in the new company established by order of the Russian government as the operator of the Sakhalin-2 LNG project. We have notified the federal government of the Russian Federation and our partners in Sakhalin Energy Investment that we will not receive a stake in the new legal entity and reserve all of our legal rights,” Shell said in a statement.
Earlier, Russian Deputy Prime Minister Alexander Novak told reporters that there were no requests about the possibility of staying in the project.Sakhalin-2” has not been reported from Shell.
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. New operator informed about the beginning of work on August 19.
Former Japanese government reported about plans to remain in the Sakhalin-2 project and asked Mitsui and Mitsubishi to keep their participation in Sakhalin-2. On August 25, the Japanese newspaper Nikkei, citing sources, reported that the companies had decided to stay in the project. On August 30 and 31 on the official portal of legal information were published Russian government orders that allowed Mitsui and Mitsubishi to keep their stakes.
The Anglo-British company announced its decision to withdraw from Russian projects after the start of a special operation in Ukraine. In May, Shell sold Lukoil its network of about 400 gas stations and an oil production plant in the Tver region. At the same time, the British company withdrew from the joint project withGazprom oil” “Gydan energy”. The Shell representative also confirmed to Vedomosti its intention to give up 27.5% in the Sakhalin-2 LNG project.
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