26 Oct 2017 13:38

Sakhalin-2 property pledged, transfer to state possible after 2021

MOSCOW. Oct 26 (Interfax) - The property of the Sakhalin-2 project, which is being implemented under a production sharing agreement (PSA), is currently pledged so its transfer to the state is possible after 2021, the Russian Accounts Chamber said in a statement.

"Concerning the transfer of Sakhalin-2 state property, this will only be possible after 2021 as it is currently pledged," the statement said.

The process of transferring property to the government of another PSA project, Sakhalin-2 has already been commenced. "An act was signed in 2017 for the Sakhalin-1 project on the right to transfer property to the state for 10 pilot facilities. The registration process for the given properties is under way," the Accounts Chamber said.

All property of the Kharyaga PSA, the value of which has been reimbursed by the state, has already been transferred to the state balance sheet.