Japan trading houses study Shell's exit from major Russian gas project

Economy

Major Japanese trading houses Mitsui & Co. and Mitsubishi Corp. said Tuesday they will consult with the government to assess Shell PLC's planned exit from its flagship oil and natural gas business in eastern Russia. The British oil major said Monday it is exiting Sakhalin 2, its joint venture with Russian energy company Gazprom and a massive oil and gas project located on Sakhalin island, following Russia's invasion of Ukraine. Shell has a 27. 5 percent stake in the project, while Mitsui and Mitsubishi hold 12.5 percent and 10 percent, respectively. The project has been one of the main sources...

Kyodo News

Kyodo News