Russia’s Putin says row with Exxon over Sakhalin-1 is resolved

7 Sep 2017   Russia

A dispute with U.S. major ExxonMobil over the Sakhalin-1 oil and gas project has been resolved, Russian President Vladimir Putin said on Thursday. Speaking at a conference in the Russian Pacific port city of Vladivostok, he said that the government will soon announce the decision. Exxon has been in talks with Russian gas giant Gazprom for years over gas sales from Sakhalin-1. Gazprom has a monopoly on gas exports via pipeline from Russia. Exxon also lodged a claim with a court of arbitration in Stockholm in 2015 seeking the return of $637 million which it said it had over-paid in taxes to the Russian exchequer.

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