MOSCOW, September 6. /TASS/. A potential buyer of a stake in the Sakhalin 2 oil and gas project must have experience in operating an LNG plant with a production capacity of more than 4 million tonnes per year. This according to a decree by Prime Minister Mikhail Mishustin, which is published on the official portal of legal information.
The document sets the criteria to be met by a Russian legal entity, which is to bid for a stake in the charter capital of LLC Sakhalin Energy.
According to the criteria, a potential buyer must implement a project for the production of liquefied natural gas with a production volume of more than 4 million tonnes per year and a total cumulative production of at least 40 million tonnes.
A candidate for a stake in the project must have valid charter agreements for gas carriers with a total cargo capacity of more than 4 million cubic meters, which are valid for at least 10 years.
Other criteria include the experience of international LNG trade with a total accumulated sales volume of at least 40 million tonnes. Also an applicant must have LNG supply contracts with a validity period of more than five years, according to the resolution.
Changes in the project
On August 2, Russian Prime Minister Mikhail Mishustin signed the decree on establishment of the Sakhalin Energy LLC, the new operator of Sakhalin 2. The company is registered in Yuzhno-Sakhalinsk.
In accordance with the executive order of the Russian President signed on June 30, Sakhalin Energy [previous operator - TASS] shareholders should agree to take participation interests in the created company in proportion to interests in the previous operator within one month. The controlling stake (50% plus 1 share) in Sakhalin Energy belongs to Gazprom, Shell has 27.5% of the shares, Mitsui and Mitsubishi own 12.5% and 10% respectively.
In late August, Mitsui and Mitsubishi officially informed the Russian authorities of their agreement to retain their stake in the Sakhalin-2 oil and gas project, and the Russian government allowed them to transfer their stake in the new project operator.
On February 28, Shell announced that it intends to withdraw from all joint projects with Russia, including Nord Stream 2 and Sakhalin 2.