August 16, 2022

519 Magazine

Complete News World

Russia is taking control of Sakhalin-2, one of the world’s largest oil and gas projects

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  • BBC News World

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Sakhalin-2 supplies 4% of the world’s liquefied natural gas market.

Russia took control of a major oil and gas project with Britain’s Shell owning 27.5% and Japan’s Mitsui and Mitsubishi another 22.5%.

Last weekend, Russian President Vladimir Putin signed a decree to seize Sakhalin-2, in a move that would particularly affect Japan.

Action can be forced Shell, Mitsui and Mitsubishi Abandon their investments as the economic fallout from the war in Ukraine spreads.

Oil major Shell said: “We are aware of the mandate and are assessing its implications.”