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New Sakhalin-2 project operator registered in Yuzhno-Sakhalinsk

The decree on establishment of Sakhalin Energy LLC was signed on August 2

MOSCOW, August 5. /TASS/. The new operator of the Sakhalin-2 production sharing agreement (PSA) based project was registered in Yuzhno-Sakhalinsk, as follows from data in the united state register of legal entities.

Sakhalin-Energy LLC was registered on August 5.

Russian Prime Minister Mikhail Mishustin signed the decree on establishment of Sakhalin Energy LLC on August 2. The document stipulates that Gazprom Sakhalin Holding will have 50.00000001378317% in the new operator and remaining 49.99999998621683% will be held by Sakhalin Energy LLC.

In accordance with the executive order of the Russian President signed on June 30, Sakhalin Energy [previous operator - TASS] shareholders should agree to take participation interests in the created company in proportion to interests in the previous operator within one month. The Cabinet will decide whether to transfer or refuse to transfer the participation interest; in case of refusal it can sell the stake to a Russian legal entity within four months and credit funds from sale at a special account.