OREANDA-NEWS. On April 18, 2007 the shareholders of Sakhalin Energy Investment Company Ltd. (Sakhalin Energy) signed a Sale and Purchase agreement with OAO Gazprom (Gazprom), to trigger the transfer of shares in Sakhalin Energy. Under the new shareholding structure of Sakhalin Energy, Gazprom will hold 50% plus 1 share, Shell 27,5%, Mitsui 12,5% and Mitsubishi 10%, reported the press-centre of  Sakhalin Energy Investment Company Ltd.
Sakhalin Energy remains the operator of the Sakhalin II project, which will continue to be governed by the Production Sharing Agreement signed in 1994 between the Russian Federation and Sakhalin Energy.
Sakhalin Energy’s CEO Ian Craig commented that the deal would enable the world’s major gas player to provide a highly valued contribution to the Sakhalin II project.
“We welcome entry of the world’s leading gas company into Sakhalin Energy as a major shareholder,” said Ian Craig. “Gazprom brings extensive expertise to the Sakhalin II project which will be of great benefit in completing the remaining programme of work and in maximising the long term value of the venture. Our newly broadened shareholder base strengthens our ability to successfully deliver this gateway project for the benefit of the shareholders, Sakhalin Island, the Russian Federation and our customers in Asia and North America.”