The decree created a new Russian firm that will take over all rights and obligations of Sakhalin Energy Investment Corporation.

ExxonMobil holds a 30% stake in Sakhalin 1. Other partners include Rosneft with 20%, Japan's Sodeco with 30% and India's ONGC Videsh with 20%.

ExxonMobil operates the Sakhalin-1 project on behalf of an international consortium of Japanese, Indian and Russian companies.

The meeting participants praised the project operator, Sakhalin Energy, for its work.

Sakhalin II is one of the most successful export projects targeting the Asian-Pacific region. The key to success lies in integration: it is managed and operated by Sakhalin Energy Company and its shareholders: Gazprom (50% and 1 share), Shell (27.5% minus 1 share), Mitsui (12.5%), Mitsubishi (10%).

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