RF President Vladimir Putin has signed a decree on implementation of special economic measures in the fuel and power sector in connection with the unfriendly actions of a number of countries, the press office of Kremlin has informed.
According to the document, all the rights and obligations under the Sakhalin 2 project will be transferred to a company to be established by the RF Government. The property of the Sakhalin 2 project operator Sakhalin Energy will be transferred to the Russian Federation and will be operated by the new company.
At present, the shareholders of Sakhalin Energy are Gazpron with 50% plus one share, Shell with 27.5% minus one share, Mitsui with 12.5% and Mitsubishi with 10%.
The current shareholders are to inform the RF Government whether they wish to have a share in the project within a month. Otherwise, the Government is to sell their shares within four months after receiving the corresponding notification.
The measures are implemented due to a threat of natural and technogenic disaster, a threat to people’s life and safety, and a threat to the national interests and economic security of Russia.
Photo: Sakhalin Energy