08:31 August 4, 2022.
A month ago, Russian President Vladimir Putin decided to nationalize the company “Sakhalin Energy“, which is the operator of the Sakhalin-2 project. Prime Minister Mikhail Mishustin is fulfilling the presidential decree and on August 2 signed his own decree (published on August 3) on the future of the organization.
Instead of Sakhalin Energy Investment Company, Ltd. LLC “Sakhalin Energy” is created. The authorized capital of the company is 10 thousand rubles. The location of the company is Yuzhno-Sakhalinsk. The Prime Minister instructed the Federal Tax Service to enter the legal entity into the Unified State Register of Legal Entities within three days, but it will be necessary to restrict access to information regarding the participants in the company.
The distribution of shares in the new Sakhalin Energy is as follows.
The controlling stake (50% plus one share) remains with Gazprom, while Shell, Mitsui and Mitsubishi are not mentioned in the resolution. In a foreign company, they owned 27.5%, 12.5% and 10% of the shares, respectively. Apparently, the Government decided to fulfill the plan and freeze these assets. Next, businesses will have to apply to get the shares back into ownership. “Kommersant” reports that the enterprises allocate a month for this. The government, however, may not approve these appeals. Those parts that will remain without an owner will be sold to Russian legal entities.
Mishustin instructed Rosnedra to re-register licenses for the Piltun-Astokhskoye and Lunskoye oil and gas fields, which are being developed under the Sakhalin-2 production sharing agreement, to a new operator. The current head of the Sakhalin Energy branch, Andrey Oleinikov, is appointed manager of a new domestic enterprise.
