Mass media: Sakhalin-2 operator allowed payment for LNG in rubles

Tanker terminal for LNG project “Sakhalin-2”. Archive photo

MOSCOW, 23 Jul – RIA Novosti. The operator of liquefied natural gas (LNG) “Sakhalin-2″ offers its customers to pay in other currencies, including rubles, because if foreign sanctions have a problem with paying in dollars, according to Bloomberg.”Customers should use alternative currencies, including the ruble, the Euro, the yen or the British pound, if payment in dollars is determined in the contracts could not be made”, – quotes Agency the relevant documents.

According to Bloomberg, the operator of the “Sakhalin-2” reorganizing due to Western sanctions in the face of rising demand for LNG in the world. “Russia is asking buyers LNG “Sakhalin-2″, to pay in rubles or other currency if sanctions are having trouble paying in US dollars,” – says in this regard the Agency.

“Sakhalin-2” – oil and gas project, which develops two deposits in the North-Eastern Sakhalin shelf: Piltun-Astokhskoye (mostly oil) and Lunskoye (mostly gas), as well as operates a gas liquefaction plant with a design capacity of 9.6 million tons per year.

Russian President Vladimir Putin on 30 June signed a decree on application of special economic measures in the sphere of fuel and energy complex in connection with the unfriendly actions of foreign States. He ordered to change the operator of the project “Sakhalin-2” to a new Russian legal entity, and the preservation of foreigners share it now in question. In the former operator of Sakhalin Energy – Gazprom owns 50% plus one share, Shell – 27.5 per cent minus one share, Mitsui – 12.5 per cent, and Mitsubishi – 10%.

The decree ordered that the share in the authorized capital of LLC “Sakhalin energy” will “Gazprom Sakhalin holding”. The foreign participants per month from the date of creation of new enterprises are obliged to inform the Cabinet of Ministers of the Russian Federation on agreement to take their share in Sakhalin energy in proportion to the shares in Sakhalin Energy. The company was registered on August 5, respectively, the decision to continue participation in the project to foreign partners should be made by September 5.