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Russia To Pay $1.2bn To Shell For Sakhalin-2 Stake

NATURAL GAS

Russian President Vladimir Putin has given his consent to transfer 94.8 billion roubles ($1.21bn) to Shell for its stake in the Far East Sakhalin-2 gas project according to Kommersant.

  • Russian gas company Novatek received Putin's consent to transfer the money to Shell, after Shell exited the project following Russia’s invasion into Ukraine.
  • Novatek had applied to acquire a stake in Sakhalin Energy, the operator of the Sakahlin-2 gas project.
  • While shell quit the project, Japanese trading houses Mitsui and Mitsubishi kept their stakes with the new Russian operator.

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