Kharyaga, Sakhalin-1 property to be handed to state in 2015 - minister
MOSCOW. April 13 (Interfax) - The property of the Kharyaga and Sakhalin-1 projects, which are being carried out under production sharing agreements (PSA), is supposed to be transferred to the government in 2015, and the property of the Sakhalin-2 PSA project is supposed to be transferred to the state in 2021, Energy Minister Alexander Novak said in an interview with business daily Vedomosti published on Monday.
"All PSA operators will transfer property, since the state reimbursed all their costs on the creation of this property. Under the schedule agreed on with the Federal Property Agency, the property of the Kharyaga project and Sakhalin-1 is to be transferred to the state in 2015. The transfer of the property of the Sakhalin-2 project will be carried out in 2021 after the lifting of encumbrances that were placed on it due to the operator raising project financing," Novak said.
"It's possible that various issues might arise, since the practice of transferring PSA infrastructure to the state will be carried out for the first time. But it's better to resolve them as they arise. There might also be nuances in the process of transfer and in the process of subsequent operation. Under the terms of all PSA, after the transfer of the property to the state, the operator will have the right to free, exclusive use of the property created as a result of the implementation of the agreement. According to the Finance Ministry, the project operators will not be obligated to pay additional taxes," Novak said.