Moscow-Sana
The new operator of the Russian gas project Sakhalin 2 announced that it has officially started today the implementation of production and economic activities related to the project.
"The property, rights, obligations and employees of Sakhalin Energy, the operating company of the Sakhalin 2 project, have been transferred to the new company, while preserving the existing rights of employees to social security and bonuses," the RIA Novosti news agency quoted the company as saying in a statement today.
At the end of last June, President Vladimir Putin issued a decree implementing exceptional measures in the energy sector and nationalizing the Sakhalin Energy Company to become the property of the Russian government, in response to the sanctions of some Western countries against Moscow. Before the nationalization decision, Royal Dutch Shell had a 27.5% stake in the project, while it was Japanese companies Mitsubishi and Mitsui own a 22.5 percent stake.
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