Shell will not participate in the new operator of the Sakhalin-2 project
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The British-Dutch oil and gas company Shell has notified the Russian government that it will not participate in the new operator of the Sakhalin-2 project, Sakhalin Energy. Russian Deputy Prime Minister Alexander Novak said that Shell, as well as Exxon, did not ask the government to stay or withdraw from the Sakhalin oil and gas project.
“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 the Sakhalin Energy Investment company that we will not receive a share in the new legal entity and reserve all our legal rights, ”the British-Dutch company said (TASS quote).
“No, there were no such requests,” Mr. Novak said, answering the question whether Shell applied to the Russian government with a statement about obtaining a stake in the new operator of the Sakhalin-2 project (quoted by RIA Novosti).
The operator of the Sakhalin-2 project was replaced by a Russian legal entity in June by decree of the President of the Russian Federation. Instead of Sakhalin Energy, it was the Sakhalin Energy structure created in Russia. In the old operator, Gazprom owned 50% plus one share, Shell – 27.5% minus one share, Mitsui – 12.5%, Mitsubishi – 10%. This week, the Russian government allowed to keep participation in the new operator Sakhalin-2 Mitsui and Mitsubishi.
Read more about the terms of the contract with Sakhalin Energy – in the material “Kommersant” “Sakhalin-2 remained with its own”.
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