Trading house Mitsubishi Corp. said on Thursday it has decided to apply for a stake in the new Russian entity that took over the Sakhalin-2 liquefied natural gas (LNG) project.
The move comes after the Japanese government asked Mitsubishi to "think positively" about joining the new entity as the Sakhalin-2 is a key source of stable energy supplies for Japan.
Shares in Mitsubishi were up more than 2% after the news, outperforming the broader Nikkei index, which was up 0.5%.