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International relations

Russia transfers Sakhalin-2 to new operator without compensation

Putin move raises fears Japan's Mitsui, Mitsubishi may be excluded from new deal

Liquefied natural gas from the Sakhalin-2 project is loaded onto a tanker in the Russian port of Prigorodnoye last October.   © AP

TOKYO -- Russian President Vladimir Putin has ordered that the assets of Sakhalin-2, an oil and natural gas development project in Russia's Far East, be transferred to a newly established Russian corporation without compensation.

The presidential order signed on Thursday has raised concerns in Japan that Mitsui & Co. and Mitsubishi Corp., the two Japanese participants in the project, may now be excluded from it.

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