Support The Moscow Times!

Sakhalin-2 Recoups

Gazprom's Sakhalin-2 venture off Russia's Pacific coast with Royal Dutch Shell said its expenses have been recovered and production sharing has begun.

Sakhalin Energy, the project operator, recovered all $24.5 billion of its expenses and is now sharing production profit, the company said in a statement Friday. The federal and regional governments are expected to receive more than $100 billion over the course of the projects life, Sakhalin Energy said.

Gazprom owns 50 percent plus a share of Sakhalin Energy, while Shell holds 27.5 percent. Mitsui and Mitsubishi of Japan own 12.5 percent and 10 percent, respectively.

(Bloomberg)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.