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Russia readies new Sakhalin-2 operator, putting Japan's stake on the line

Mitsui and Mitsubishi face decision on whether to stick with energy project

A Japanese liquefied natural gas carrier is anchored near Sakhalin. The Sakhalin-2 project is responsible for around 10% of Japan's LNG imports.   © Reuters

TOKYO -- Russia has decided to establish a new operating company for the Sakhalin-2 oil and gas project, the government's Tass news agency reports, with Japanese stakeholders facing the decision of whether to maintain their interests.

The entity will be registered in Yuzhno-Sakhalinsk and run by the head of current operating company Sakhalin Energy Investment under a decree signed Tuesday. Located on Russia's Pacific island of Sakhalin, the project supplies around 10% of Japan's total liquefied natural gas imports.

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