RF Government to establish new operator of Sakhalin Energy
Property of Sakhalin Energy Investment Company, Ltd will be handed over to the newly established limited liability company
RF Government will establish a limited liability company which is to take over all the rights and obligations of Sakhalin Energy Investment under a decree signed by Russian President Vladimir Putin. The Decree “On application of special economic measures in fuel and energy segment amid unfriendly actions of some foreign states and international organizations” has been published on the official portal for legal information.
“The Government of the Russian Federation creates Russian limited liability company which is to take over all the rights and obligations of Sakhalin Energy Investment Company, Ltd pursuant to this Decree”, reads the document.
RF Government is not the company founder (member).
Under the Decree, Sakhalin Energy Investment is to be immediately transferred into the ownership of the Russian Federation with a simultaneous handing over to the newly established limited liability company for the free use throughout a period specified by an agreement.
The shares of the authorized capital will be owned by Gazprom Sakhalin Holding LLC and the company itself.
Sakhalin Energy Investment Company Ltd. (Sakhalin Energy) is the operator of Sakhalin-2, one of the world’s largest integrated oil and gas projects, which has developed major infrastructure for hydrocarbon production, transportation and processing. The company exports crude oil produced in the Sea of Okhotsk and the LNG produced at Russia’s first LNG plant built by Sakhalin Energy in the south of Sakhalin.
The document is available in Russian >>>>
