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Licenses for gas fields of Sakhalin 2 project re-registered to new operator

On August 2, Russian Prime Minister Mikhail Mishustin signed the decree on establishment of the Sakhalinskaya Energiya, the new operator of Sakhalin 2

© Yuri Smityuk/TASS

MOSCOW, August 19. /TASS/. Licenses for Piltun-Astokhskoye and Lunskoye gas fields, which are being developed as part the Sakhalin 2 production sharing agreement, have been re-registered to the project’s new operator. This is according to the data of the state register of sites of ground deposits.

The licenses for the Sakhalinskaya Energiya company were reissued on August 19. The license expiration date is May 19, 2026. Previously, the licenses for these fields were owned by Sakhalin Energy.

Gazprom owns the controlling stake (50% plus 1 share) in Sakhalin Energy, Shell has 27.5% of the shares, the Japanese Mitsui and Mitsubishi own 12.5% and 10% respectively.

On August 2, Russian Prime Minister Mikhail Mishustin signed the decree on establishment of the Sakhalinskaya Energiya, the new operator of Sakhalin 2. The company was registered on August 5.

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.

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