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akm.ru: Gazprom formed Gazprom Sakhalin Holdings to purchase controlling stake in Sakhalin Energy

23/05/2007

Gazprom Sakhalin Holdings B.V. was formed in accordance with Gazprom’s BOD decision to purchase 50% + 1 shares in Sakhalin Energy, said Gazprom’s press service to AK&M.

Thus Sakhalin Energy’s controlling stake is on the balance of Gazprom Sakhalin Holdings, registered in Amsterdam.

April 18, Gazprom closed the deal on purchasing controlling stake in Sakhalin-2 for $7.45 bln. The sides agreed that the Gazprom will pay off the deal by money and the sum of payment will be proportionally divided. Shell now has 27.5% in Sakhalin-2, Mitsui – 12.5%, Mitsubishi – 10%.

Sakhalin Energy remains the operator of the project.
In the framework of Sakhalin-2 project two fields are developed

(Piltun-Astokhskoye and Lunskoye).

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