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International relations

Russia gives 12.5% stake in Sakhalin Energy to Mitsui unit

Tokyo Gas signs long-term contract with Russian entity to buy natural gas

The liquefied natural gas plant operated by Sakhalin Energy at Prigorodnoye on Russia's Pacific island of Sakhalin.   © Reuters

MOSCOW (Reuters) -- The Russian government on Tuesday said it approved handing over a 12.5% stake in the operator of Russia's Sakhalin 2 liquefied natural gas plant to Dubai-based MIT SEL Investment, a subsidiary of Japanese trading house Mitsui & Co.

The move comes after Russian President Vladimir Putin signed a decree in June that created a new legal entity, Sakhalin Energy LLC, to deal with for buyers and shareholders, which apart from Mitsui & Co. also include Shell and Mitsubishi Corp.

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