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Russian Cabinet directed to transfer 12.5% in new Sakhalin-2 operator to Mitsui — decree

Japan’s Mitsui formally notified Russian authorities about the consent to keep the stake in the Sakhalin-2 oil and gas project

MOSCOW, August 30. /TASS/. The Russian Government authorized the transfer of 12.5% in the new Sakhalin-2 project operator to Mitsui. The relevant decree of Prime Minister Mikhail Mishustin was posted on the official web portal of legal information.

Japan’s Mitsui formally notified Russian authorities about the consent to keep the stake in the Sakhalin-2 oil and gas project. The share in Sakhalin Energy, the new operator, will be transferred to MIT SEL Investment, according to the decree. The new Sakhalin-2 operator is instructed to prepare all documents required for the transfer.

The Government ordered in accordance with "the notice of Mitsui & Co. On the consent to take ownership of the participation interest in the authorized capital of OOO Sakhalin Energy to authorize the transfer of 12.5% share in the authorized capital of the mentioned company to MIT SEL Investment Ltd. founded in the city of Dubai, the UAE, as the wholly owned subsidiary of Mitsui & Co., in proportion to the share in the authorized capital of Sakhalin Energy Investment Company held by Mitsui Sakhalin Holdings B.V. - the wholly owned subsidiary of Mitsui & Co.," the document reads.

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