Shell has informs Russia it won't be acquiring stake in new Sakhalin-2 operator

MOSCOW. Sept 1 (Interfax) - Shell (SPB: RDS.A) has informed the Russian government and other Sakhalin Energy shareholders that is will not be a co-owner of the new Sakhalin-2 project operator, LLC Sakhalin Energy, Shell said.

"Shell will not participate in the new entity created by Russian government to operate the Sakhalin 2 liquefied natural gas plant. We have notified the Russian federal government and our Sakhalin Energy partners that we will not be acquiring a stake in the new LLC and we reserve all of our legal rights," Shell said in a questionnaire.

Asked about the prospect of buying gas from the new LLC, Shell said the contract is had was with the old operator. "We continue to monitor developments related to this contract and assess our options in accordance with applicable legal requirements and agreements," it said.