On 2 August 2022, the government of the Russian Federation issued Decree No. 1369 “On Measures to Implement Decree No.416 of the President of the Russian Federation dated on 30 June 2022”. Decree 1369 sets out further details of the process for the transfer of operatorship of the Sakhalin II project from Sakhalin Energy Investment Company Ltd (SEIC) to a newly formed Russian LLC created by the Russian government: Sakhalin Energy LLC. This alert considers this new legislative development and highlights some important considerations for affected market participants.
