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The Independent (UK): Gazprom takes control of Sakhalin 2

Published: Dec 22, 2006

Russia’s state controlled gas company, Gazprom, secured a majority stake in the Sakhalin 2 project for $7.4bn (pounds 3.8bn) yesterday. Shell will continue to hold a 27.5 per cent stake, however, but is believed to have secured 50 per cent of the seats on the board, as well as an assurance that no major decisions will be taken without the backing of more than Gazprom’s 50 per cent stake.

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