Mitsui Will Keep Its Share of Sakhalin-2 LNG Project under Russian Control

Japan’s Mitsui has determined that the new Russian requirement that resources companies operating in Russia must be under Russian operators’ control will not change Mitsui’s contract or its ability to send the product to Japan, according to Nikkei. This issue comes in the midst of conflict between Japan and Russia under the Kishida government, which has joined in the Western sanctions regime against Russia. Mitsui has a 12.5% stake in Sakhalin-2, while Mitsubishi, which has not yet decided on its continued participation, has 10%. Gazprom held just under 50% in the operation previously, but will now hold just over 50%.