Russian Deputy PM Novak: New Sakhalin-2 shareholder to take Shell's place to be determined by yearend

MOSCOW. Oct 14 (Interfax) - A new shareholder to take the place of Shell (SPB: RDS.A) in production sharing agreement project Sakhalin-2 will be determined by the end of the year, Russian Deputy Prime Minister Alexander Novak said during discussions at Russian Energy Week.

"The decree is public. The operator has been replaced there. It was Shell before, and now it's Gazprom . The opportunity to stay was given to all those who participated earlier in the makeup of the project's shareholders. The Japanese wanted to, and Shell didn't want to, declined. Now a new shareholder will be determined there before the end of the year for that stake that Shell left," Novak said.