Japan notified the US of plans to retain shares in the Sakhalin-2 project

The operator of the Sakhalin-2 LNG project has shares in Japanese Mitsui and Mitsubishi. After the change in ownership of the operator, the Japanese authorities advocated continued participation in the project

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Japan intends to retain shares in the Russian project for the production of liquefied natural gas Sakhalin-2, Japanese Minister of Economy, Trade and Industry Koichi Hagiuda said at a press conference in Washington after negotiations with representatives of the US government.

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“I explained to the American side that I want to maintain the status quo, and I think they understood that,” Hagiuda said.

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Sakhalin Energy, the operator of Sakhalin-2, has shares in Japanese companies Mitsui (12.5%) and Mitsubishi (10%). The majority shareholder is Gazprom, he owns 50% plus one share. Oil and gas company Shell, which has a 27.5% stake in the Sakhalin-2 operator, announced its withdrawal from the project in February.