The latest developments reported by Kommersant indicate that Novatek is considering stepping in to acquire Shell’s stake of 27.5 percent in the Sakhalin-2 project. Sources close to the affair say the company has already informed the government of Russia about this potential purchase. The news suggests a strategic move to secure a larger portion of the project while carefully weighing the implications for Russia’s energy landscape and foreign partnerships. In recent weeks, discussions around Sakhalin-2 have intensified as observers and officials seek clarity on ownership, control, and the long term consequences for both domestic energy policy and international energy markets. This report adds to the broader conversation about how Russia plans to manage critical energy assets amid shifting global dynamics and geopolitical tensions. At the core is the belief that ensuring continuity of production and funding for Sakhalin-2 remains a priority, even as ownership structures and governance arrangements come under closer scrutiny by state authorities and industry stakeholders. The conversation around ownership changes is not just a corporate matter but a national policy issue with potential ripple effects across energy security, investment climate, and regulatory frameworks in the country.
The same coverage notes that Novatek has also pressed to accelerate the assessment of damages that may have arisen from Shell’s involvement in Sakhalin-2. In February 2023, Deputy Prime Minister Alexander Novak stated there were no active bids for purchasing Shell’s stake, while underscoring that an evaluation of any losses caused by foreign shareholders would be completed soon. The government has estimated the value of Shell’s share in Sakhalin-2 at 94.8 billion rubles, a figure that underscores the financial scale of the asset and the importance placed on a transparent, well-documented accounting of the project’s current status and future direction. Analysts say a thorough damage assessment is essential to inform policy choices, safeguard ongoing operations, and guide potential future restructurings if required. The government’s posture reflects a careful balancing act between preserving energy output from Sakhalin-2 and addressing broader political and economic considerations triggered by international sanctions and external market pressures.
Earlier actions linked to Russia’s response to external hostilities continued with a decree signed by President Vladimir Putin in August 2022. The decree expanded special economic measures in the financial, fuel, and energy sectors and extended restrictions on dealing with assets owned by foreigners from unfriendly countries. Observers note that such measures aim to shield strategic sectors from external shocks while providing the executive branch with tools to adjust to evolving circumstances. The decree also permits extensions of these restrictions if deemed necessary, reflecting a flexible approach to policy in a fast-changing environment. The interplay between these legal measures and ongoing project considerations around Sakhalin-2 highlights how policy, ownership, and economic resilience are interconnected in Russia’s approach to safeguarding energy assets against geopolitical volatility.