Putin Approves $1.2 Billion Payment To Shell For Sakhalin-2 Exit ...Middle East

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Putin Approves $1.2 Billion Payment To Shell For Sakhalin-2 Exit
source : OILPRICE ( Middle East ) () 40
Vladimir Putin has approved a request by Novatek to allow Shell to receive $1.2 billion (94.8 billion rubles) from the Russian gas producer for its 27.5% stake in the Sakhalin-2 LNG project, Russian daily Kommersant reported on Tuesday, quoting sources with knowledge of the matter. Last year, a decree from Putin stipulated that a newly set up state Russian company would take over the rights and obligations of Sakhalin Energy Investment Co., the joint venture running the Sakhalin-2 oil and gas project. Shell and Japan’s Mitsui and…

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