MOSCOW, April 30. /TASS/. Gazprom has raised its estimate for profit from the purchase of a 27.5% stake in the operator of Sakhalin-2 project, the Sakhalinskaya Energiya company to 191.5 bln rubles ($2.3 bln) from the initial forecast of 167.4 bln rubles ($2.1 bln), the gas holding company said in a report.
In March 2024, Gazprom Group acquired a 27.5% stake in Sakhalinskaya Energiya for 94.8 bln ($1.2 bln), paid in cash. As a result of the deal, Gazprom's stake in Sakhalinskaya Energiya increased to 77.5%.
"As a result of the deal, a profit of 191.507 billion rubles was recognized from a profitable purchase," the report says.
About stake in Sakhalin-2 project
In Russia, Shell was a participant in the Sakhalin-2 oil and gas project with a share of 27.5%.
In June 2022, Russian President Vladimir Putin signed a decree according to which the Russian company Sakhalinskya Energiya (Russian for Sakhalin Energy) became the operator of the project instead of Sakhalin Energy. Japanese Mitsui and Mitsubishi agreed to retain a stake in Sakhalin-2, but Shell said it would not receive a stake in the new company.
Novatek submitted an application for the stake and received permission to buy it out, but the deal was never completed. As a result, the stake was received by a Gazprom affiliated company, the Sakhalin Project company, which paid 94.8 billion rubles for it. As a result, Gazprom's share in the project increased to 77.5% from 50.00000001%.