Japan minister asks firms to consider joining new Sakhalin 2 operator

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Kyodo News

Japan’s industry minister said Friday he has asked two domestic trading houses to consider joining a new operating company for the Sakhalin 2 oil and gas project in the Russian Far East to ensure stable energy supply. The requests to Mitsui & Co. and Mitsubishi Corp., which currently hold stakes in the project, came after Russian President Vladimir Putin signed a decree in late June to seize control of the project with the creation of a new operating company. According to the decree, foreign investors are required to apply within a month to maintain their stakes in the new entity following its…

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