The Russian government has approved the decision of Japanese trading house Mitsui & Co. to keep its stake in the Sakhalin-2 oil and natural gas project in the Far East.
Moscow announced in a decree on Tuesday that it allows the handover of a 12.5-percent stake in a newly established company that took over the project.
The percentage is the same as the stake Mitsui had in the former operator.
In early August, Russia told Mitsui & Co. and Mitsubishi Corporation that they needed to decide within a month whether they wanted to acquire shares in the new firm. Both companies have decided to take a stake.
Moscow announced in a decree on Tuesday that it allows the handover of a 12.5-percent stake in a newly established company that took over the project.
The percentage is the same as the stake Mitsui had in the former operator.
In early August, Russia told Mitsui & Co. and Mitsubishi Corporation that they needed to decide within a month whether they wanted to acquire shares in the new firm. Both companies have decided to take a stake.
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Summary
Russian government allows Mitsui & Co. to retain 12.5% stake in Sakhalin-2 oil and gas project through a handover to a newly established company, following the same percentage ownership as before. Both Mitsui and Mitsubishi opted to take shares in the new firm after Russia's August deadline.
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ID: 630ea9fd-3868-4431-9f0e-5a2ec0a80b98
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20220831_08/
Date: Aug. 31, 2022
Created: 2022/08/31 09:23
Updated: 2025/12/09 13:59
Last Read: 2022/08/31 09:23