Mitsui, M'bishi cut value of stakes in Sakhalin 2 energy project

Politics Economy

Major Japanese trade houses Mitsui & Co. and Mitsubishi Corp. said Tuesday they have trimmed the value of their stakes in the Sakhalin 2 oil and natural gas project in the Russian Far East by a combined 217.7 billion yen ($1.7 billion), citing growing business uncertainty. Mitsui cut its investment value by 136.6 billion yen and Mitsubishi by 81.1 billion yen 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. "It's possible that the value fluctuates further depending on the situation," Mitsubishi Chi...

Kyodo News

Kyodo News