The government approved the criteria for potential buyers of the share of Sakhalin-2
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The government approved the criteria that a legal entity must meet in order to buy out a share in the project “Sakhalin-2“, should from the decision published on the official portal of legal information.
So, a potential buyer must meet the following criteria:
LNG projectSakhalin-2» is sold on the shelf of Sakhalin Island under a Production Sharing Agreement (PSA). It provides for the development of the predominantly oil Piltun-Astokhskoye and the predominant gas Lunskoye fields.
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 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 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. However, it became known that Shell refused to participate in the new operator.
At the end of August, the Japanese financial and industrial group Mitsui received approval from the Russian government to participate in the project “Sakhalin-2“. In addition, Prime Minister Mikhail Mishustin allowed Mitsui to transfer a 12.5% stake in the new project operator “Sakhalin-2“. Mitsubishi also retained its involvement in the project, but Shell decided get out of it.
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