Shell’s share in the Sakhalin-2 project is estimated at 94.8 billion rubles
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The government has valued Shell’s stake (27.5%) in the oil and gas project “Sakhalin-2» at 94.8 billion rubles. About it says in the order of the government published in the Internet portal of legal information.
“Based on the report on the assessment of the share of 27.49999998621683 percent in the authorized capital of Sakhalin Energy Limited Liability Company <...> approve the assessment of the specified share in the authorized capital of the Sakhalin Energy limited liability company in the amount of 94,800 million rubles, ”the document says.
At the end of June, 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 project operator “Sakhalin-2» 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 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,” the company announced on Sept. 1.
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 withdrew from the new operator. However, Japanese companies preferred to keep their shares in the project.
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