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Japan Ask Mitsui and Mitsubishi to Consider New Sakhalin-2 Entity

LNG

Japan government has asked Mitsui and Mitsubishi to “think positively” in taking part in the new Russian entity that will operate the Sakhalin-2 LNG export project.

  • Foreign investors in the current project have a month to decide whether they want to take a holding in the new project. Japanese trading houses Mitsubishi Corp. and Mitsui & Co. own a combined 22.5% in Sakhalin-2 but they are yet commit to the new entity.
  • Russia is establishing a new operator of the LNG project with Gazprom receiving just over 50% of the new entity. The new company will hold the remainder until current shareholder apply for their stake.
  • It is not yet clear when the new operating entity will be established.
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