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    Gazprom becomes Sakhalin Energy core shareholder

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    Gazprom [RTS: GAZP] has purchased 50% plus one share of Sakhalin Energy, the project operator of the major Sakhalin II oil and gas project off Russia's Pacific Coast, for $7.45 billion, the Russian energy giant's CEO said Thursday.

    MOSCOW, December 21 (RIA Novosti) - Gazprom [RTS: GAZP] has purchased 50% plus one share of Sakhalin Energy, the project operator of the major Sakhalin II oil and gas project off Russia's Pacific Coast, for $7.45 billion, the Russian energy giant's CEO said Thursday.

    "Gazprom becomes the project's core shareholder and will jointly work with other shareholders to launch it as soon as possible," Alexei Miller said at a meeting between Russian President Vladimir Putin and the management of companies involved in the Sakhalin II project.

    Miller said Gazprom had been conducting talks with Shell on Sakhalin II and production of liquefied natural gas for two years.

    Shell said it sold Gazprom 27.5% of its shares, Mitsui sold 12.5%, and Mitsubishi 10% in the capital of Sakhalin Energy.

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