Sectoral sanctions won't impact new Sakhalin shelf projects, says governor

The sectoral sanctions imposed on Moscow and U.S. oil giant ExxonMobil's decision to suspend operations in Russia but the Sakhalin-1 project will not impact Sakhalin shelf projects, Sakhalin Region Governor Alexander Khoroshavin said.

The sectoral sanctions imposed on Moscow and U.S. oil giant ExxonMobil's decision to suspend operations in Russia but the Sakhalin-1 project will not impact Sakhalin shelf projects, Sakhalin Region Governor Alexander Khoroshavin said.

"Sakhalin-1 and Sakhalin-2 projects do not fall under the sanctions. As to prospective Sakhalin shelf projects, they do not involve companies from the states which have joined the sanctions. There are Chinese, Indian and other companies unrelated to the sanctions. So, I believe we are hardly facing anything in this field," he said at a press conference on Friday.

The new Sakhalin shelf projects "will proceed as planned," he noted.

Khoroshavin said he had met with Shell and ExxonMobil executives.

"They said they were very interested in the Sakhalin-1 and Sakhalin-2 projects, which were two of the best in their corporate portfolios," Khoroshavin stated.

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