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Rosneft received permission from FAS to purchase a quarter of Sakhalin Energy Company
The Department for Control of Housing and Communal Services, Construction and Natural Resources of the Federal Antimonopoly Service agreed to purchase by Rosneft a block of shares in Sakhalin Energy Company. The text of the decision was published on the official website of the FAS.
25% and one more voting share in SEK will belong to Rosneft. According to the press service, the decision to participate in its authorized capital was made at a meeting of the board of directors, which took place last Monday. The board members who participated in it supported the purchase of shares unanimously. Since the number of shares exceeds a quarter of their total number, Rosneft needed to obtain the consent of the antimonopoly authority.
The press service of the Sakhalin Oblast government said that SEK was established in 2009 by the regional authorities and the company RAO ES of the East. She was the customer-developer in power grid projects and the construction of the fourth power unit at Yuzhno-Sakhalinskaya CHPP-1. The "SEK" receives budgetary funds within the framework of the state program for the development of the Far East. In addition, in 2011 she was forced to take a billion-dollar loan from Rosneft due to the lack of money for the construction of the power unit.
Rosneft is currently seeking permission to connect to the Sakhalin-2 gas pipeline, which feeds the CHPP. The hearing is due on Monday.