Putin instructed to create a new operator of the Sakhalin-1 project

On Friday evening, Russian President Vladimir Putin’s decree appeared on the official portal of legal information, instructing the government to create a new operator for the Sakhalin-1 project.

This operator received all the property of the consortium under a production sharing agreement.

At the same time, the government appointed Sakhalinmorneftagas-Shelf as the manager of the new operator. This company and other subsidiaries of Rosneft, which are participants in the project, will receive a total of 20%, and the remaining 80% will be transferred to the new operator until they are transferred to the rest of the participants.

Foreign participants must notify the Russian government within a month that they are taking ownership of shares in the authorized capital of the company.

Russia retains the exclusive right to export gas within the framework of the Sakhalin-1 project.

Source: Все материалы – Московский Комсомолец by www.mk.ru.

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