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Mitsubishi Join Mitsui in New Sakhalin-2 Entity


Both Japan’s Mitsui and Mitsubishi have decided to join the new Russian entity that took over Sakhalin-2 LNG

  • The companies have until Sep 4 to submit their consent to take a stake in the project.
  • Mitsui and Mitsubishi have 12.5% and 10% respectively. Shell have already declared their intent to quite Sakhalin-2 due to the change in entity.
  • 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.

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