The British-Dutch company Shell has not received any payments for its stake in the Sakhalin-2 project, which is to go to Novatek by the decision of the russian authorities, Shell's CFO Sinead Gorman said on Thursday.
Source. This was reported by Reuters.
In June 2022, the russian authorities decided to create a new russian operator for the Sakhalin-2 project, which took over all the rights and obligations of the previous one, "due to the unfriendly actions of some foreign states and international organizations".
State-owned Gazprom retained a controlling 50% stake in Sakhalin-2.
Japanese investors Mitsui and Mitsubishi, which together own 22.5% of the project, agreed to stay and received permission from the russian authorities, while Shell decided to leave.
In April this year, the russian government approved the sale of Shell's 27.5% stake in Sakhalin-2 to Novatek for $750 million.
Shell has not received any payments and reserves the right to take legal action, Gorman said.
Background. As a reminder, Ukraine has offered Shell to allocate part of the proceeds from the sale of its business in russia to the war-affected areas. This is the Sakhalin-2 joint venture for the development of oil and gas fields in the Far East, in which Shell holds a 27.5% stake.