Russia OKs Japan trader's investment in Sakhalin 2 energy project

Economy

Russia on Tuesday authorized investment by a Tokyo trading company in the Sakhalin 2 oil and gas energy project, Tass news agency said, a step toward Japan procuring stable supplies of liquefied natural gas. The Russian government approved a plan for Mitsui & Co. to hold 12.5 percent of the project's new operator, set up by Russia in early August. The holding would match Mitsui's stake in the former operator of the project. Mitsubishi Corp., another major Japanese trader, held 10 percent in the previous company and has said it also intends to keep its stake in the new company. The Tokyo-based ...

Kyodo News

Kyodo News