Japanese government urges companies to keep shares with Russian LNG project

2022-07-17 07:44:46

(MENAFN) On Saturday, the Nikkei mentioned in a report that the Japanese administration has urged on Mitsubishi and Mitsui to maintain their stakes in the Sakhalin-2 Liquefied Natural Gas venture amid its handover to a Russian operator.

“The companies have shares [in Sakhalin-2], so we agreed that they should hold them tight,” Japanese Minister of Economy, Trade and Industry Koichi Hagiuda stated to reporters after discussing with Prime Minister Fumio Kishida, as quoted by the news outlet.

Sakhalin-2 outputs 10 million tons of LNG a year, as well as nearly 60 percent of the venture's production is shipped to Japan.

On June 30, Russian Leader Vladimir Putin inked a ruling in relation to which Sakhalin-2 operator Sakhalin Energy Investment Firm, in which Japan’s conglomerates Mitsui and Mitsubishi possess 12.5 percent as well as 10 percent each, in that order, becomes the property of a firm that is going to be established by the Russian administration.

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