https://sputnikglobe.com/20220905/putin-says-many-foreign-russian-companies-want-to-join-sakhalin-2-oil-and-gas-project-1100402716.html
Putin Says Many Foreign, Russian Companies Want to Join Sakhalin-2 Oil and Gas Project
Putin Says Many Foreign, Russian Companies Want to Join Sakhalin-2 Oil and Gas Project
Sputnik International
PETROPAVLOVSK-KAMCHATSKY, Russia (Sputnik) - Russian President Vladimir Putin said on Monday that enough companies from Russia and other countries are willing... 05.09.2022, Sputnik International
2022-09-05T15:09+0000
2022-09-05T15:09+0000
2022-11-15T14:20+0000
russia
vladimir putin
sakhalin-1
sakhalin-2 field
gas
oil
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The government gives priority to Russian consumers in the development of the Sakhalin-2 project, Putin added.The Sakhalin-2 project is exploring two reserves — Piltun-Astokhskoye (mainly oil) and Lunskoye (mainly gas) — in the northeast of the Sakhalin shelf. The project was managed by Sakhalin Energy, in which 50% plus 1 share belong to Russian energy giant Gazprom, 27.5% minus 1 share to British-Dutch petroleum company Shell, 12.5% to Mitsui & Co. Ltd, and 10% to Mitsubishi Corporation.In June, Russian President Vladimir Putin signed a decree on special economic measures in the fuel and energy sector amid the unfriendly actions of foreign states. The decree provided for the change of the Sakhalin-2 operator. According to the document, the property of Sakhalin Energy is to be handed over to Russia's ownership with simultaneous transfer to the new operator for free use.Gazprom will maintain its stake in the project, while foreign firms have to declare within a month whether they agree to accept the same stake in the new operator. Then the Russian government will decide in three days whether to transfer a stake to a foreign company. The non-transferred shares will be sold, and foreign companies will receive proceeds minus the cost of any damage caused by them.On August 3, the Russian government ordered the creation of Sakhalin Energy LLC — the new operator of the Sakhalin-2 project with registration in the city of Yuzhno-Sakhalinsk. On August 30, the Russian government published an order allowing Mitsui to take ownership of a 12.5% stake in the new operator. On the following day, Moscow also allowed Mitsubishi to transfer a 10% stake to DGS Japan Co., Ltd, a 100% subsidiary of Mitsubishi. On September 1, Shell said that it will not participate in the Sakhalin-2 project, and informed its partners and the Russian government about it.
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russia, vladimir putin, sakhalin-1, sakhalin-2 field, gas, oil
russia, vladimir putin, sakhalin-1, sakhalin-2 field, gas, oil
Putin Says Many Foreign, Russian Companies Want to Join Sakhalin-2 Oil and Gas Project
15:09 GMT 05.09.2022 (Updated: 14:20 GMT 15.11.2022) PETROPAVLOVSK-KAMCHATSKY, Russia (Sputnik) - Russian President Vladimir Putin said on Monday that enough companies from Russia and other countries are willing to enter the Sakhalin-2 oil and gas project.
"As for Sakhalin-2, you know that we have enough people willing to join this project: both foreign and Russian legal entities," Putin said at a meeting on the social and economic development of Kamchatka, which is located in the Russian Far East.
The government gives priority to Russian consumers in the development of the
Sakhalin-2 project, Putin added.
"The issue of resource allocation from this field is related to our obligations, including the work of operators at this enterprise. A significant amount is delivered to Japan, South Korea, but of course, domestic consumers are of paramount importance to us," Putin said.
The Sakhalin-2 project is exploring two reserves — Piltun-Astokhskoye (mainly oil) and Lunskoye (mainly gas) — in the northeast of the Sakhalin shelf. The project was managed by Sakhalin Energy, in which 50% plus 1 share belong to Russian energy giant Gazprom, 27.5% minus 1 share to British-Dutch petroleum company Shell, 12.5% to Mitsui & Co. Ltd, and 10% to Mitsubishi Corporation.
In June, Russian President Vladimir Putin signed a decree on special economic measures in the fuel and energy sector amid the unfriendly actions of foreign states. The decree provided for the change of the Sakhalin-2 operator. According to the document, the property of Sakhalin Energy is to be handed over to Russia's ownership with simultaneous transfer to the new operator for free use.
Gazprom will maintain its stake in the project, while foreign firms have to declare within a month whether they agree to accept the same stake in the new operator. Then the Russian government will decide in three days whether to transfer a stake to a foreign company. The non-transferred shares will be sold, and foreign companies will receive proceeds minus the cost of any damage caused by them.
On August 3, the Russian government ordered the creation of Sakhalin Energy LLC — the new operator of the
Sakhalin-2 project with registration in the city of Yuzhno-Sakhalinsk. On August 30, the Russian government published an order allowing Mitsui to take ownership of a 12.5% stake in the new operator. On the following day, Moscow also allowed Mitsubishi to transfer a 10% stake to DGS Japan Co., Ltd, a 100% subsidiary of Mitsubishi. On September 1, Shell said that it will not participate in the Sakhalin-2 project, and informed its partners and the Russian government about it.
