BUSINESS / Companies

Russia's Gazprom to get 50% of Sakhalin-2 LNG project replacement entity

A Japanese-made liquefied natural gas carrier is anchored near an LNG plant on Sakhalin island near the town of Korsakov in 2009. | REUTERS

Reuters

Aug 4, 2022

Gazprom will receive 50% of a new Russian entity replacing the Sakhalin Energy liquefied natural gas (LNG) project, Russian news agencies reported on Wednesday, citing a government decree.

Interfax said the new entity will be registered in the city of Yuzhno-Sakhalinsk on the Russian Pacific island of Sakhalin. The Sakhalin-2 LNG plant is located 60 kilometers (37 miles) south of Yuzhno-Sakhalinsk.

Japanese trading houses Mitsui & Co. and Mitsubishi on Tuesday cut the value of their stakes in the Sakhalin-2 LNG project by ¥217.7 billion ($1.62 billion) after Moscow's move to seize control of it.

Russia's Gazprom to get 50% of Sakhalin-2 LNG project replacement entity

In your social network

In your inbox

In your social network

In your inbox