Kremlin-controlled energy giant Gazprom has acquired a 27.5 per cent stake, formerly owned by Shell, in Russian liquefied natural gas (LNG) producer Sakhalin Energy for around $1 billion, according to a government order.
The government also officially nullified its order a year ago on selling the stake to Gazprom’s rival, Novatek, without explanation.
The Russian government said late on Monday that the 27.5 per cent stake in Sakhalin Energy is due to be sold to a company called Sakhalin Project for 94.8 billion roubles ($1.02 billion).
