Russia Asks Sakhalin-2 Gas Buyers to Pay Through Russian Bank
- LNG company is set to transfer rights to Russian entity
- Stakeholder Shell reiterates unlikely to join new company
This article is for subscribers only.
Russia is asking customers of the Sakhalin-2 liquefied natural gas plant in the country’s far east to make payments through a Russian bank as part of President Vladimir Putin’s decree to create a new company for the project.
Project operator Sakhalin Energy Investment Company Ltd. has informed LNG buyers on required changes to their agreements, such as the name of the entity and its location, as well as a move to a Russian bank, according to people with direct knowledge of information. The terms of the contracts -- the currency, volumes, prices and delivery locations -- will remain intact, they said.