MOSCOW, December 14. /TASS/. Russia has appraised the stake held by Shell in the Sakhalin-2 project at 94.8 bln rubles ($1.5 bln), according to the decree of the Russian government released on Wednesday.

"By virtue of the report on appraisal of a participation interest of 27.49999998621683% in the charter capital of OOO Sakhalinskaya Energiya, whose transfer <...> was not made to the shareholder of Sakhalin Energy Investment Company Ltd, dated November 28, 2022, to approve the valuation of the given participation interest in the charter capital of OOO Sakhalinskaya Energiya in the amount of 94.8 bln rubles," the decree reads.

Shell, which had 27.5% in the Sakhalin-2 project, said it would not receive a stake in a new company after transfer of the project operator to the Russian jurisdiction. The company formally notified Russia on September 1, 2022 that it would not apply for participation interests in OOO Sakhalinskaya Energiya.