OREANDA-NEWS. OAO Gazprom, Royal Dutch Shell plc (Shell), Mitsui &Co., Ltd. (Mitsui) and Mitsubishi Corporation (Mitsubishi) have signed a Protocol on Gazprom’s joining Sakhalin Energy Investment Company Ltd. (Sakhalin Energy) as the main shareholder.

In accordance with the Protocol terms, Gazprom will purchase a 50 per cent stake plus 1 share in Sakhalin Energy for US$ 7.45 billion.

To execute the deal each of Sakhalin Energy’s shareholders will decrease its stake by 50 per cent with recompense to be allocated on a proportional basis. As a result, Shell will own a 27.5 per cent stake, and Mitsui and Mitsubishi - 12.5 per cent and 10 per cent of shares, respectively.

Sakhalin Energy will continue being operator of the Sakhalin-2 project. Gazprom will play the leading role in the project as a majority shareholder and Shell will go on making a crucial contribution in the Sakhalin Energy operational management and will remain as technical adviser.

Sakhalin Energy will still be focused on implementing the project according to schedule, which will enable to provide timely supply of LNG to Japan, Korea and the US Western coast. All of the previously sealed LNG supply contracts will remain in full force.