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Japan's Mitsui Intends to Keep Stake in Russia's Sakhalin-2

ENERGY

Japan’s Mitsui intend to inform Russia about its decision to remain in the Sakhalin-2 project by the end of August according to Nikkei newspaper reports.

  • Mitsui believes that no serious changes that may lead to adverse consequences for the business will take place after project management restructuring, the newspaper said.
  • Other Japanese atkeholder in the project Mitsubishi is still considering the new contract.
  • Mitsui and Mitsubishi have 12.5% and 10% respectively.
  • The vast majority of the terms in the contracts are believed to be unchanged but banking will now be through Gazprombank and the project company is now Russian rather than Bermuda based after Putin’s recent decree was announced in July.
Energy BulletsCommodities
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