Russia's Novatek submits application to take share in Sakhalin-2 LNG project

Kitco Media
By Reuters
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Reuters
April 3 (Reuters) - Russian gas company Novatek said on Monday it had submitted an application to acquire a stake in Sakhalin Energy, the operator of the Far East Sakahlin-2 gas project, the Interfax news agency reported. Shell said it would quit Sakhalin-2, in which it held a stake worth 27.5% minus one share, last year before President Vladimir Putin seized full control of the plant, saying he would require Shell and two Japanese trading companies Mitsui and Mitsubishi, to apply to keep their stakes in the project, if they wanted to. Moscow invited firms interested in obtaining Shell's stake - as well as Exxon Mobil's abandoned share in the sister Sakahlin-1 project - to submit applications to the government. (Reporting by Reuters)
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