Russia seizes control of Sakhalin 2 oil and gas project, says report

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Russian President Vladimir Putin signed a decree to transfer rights to the Sakhalin 2 oil and gas project to a new Russian company, Japanese public broadcaster NHK reported.

Stakeholders have one month to say whether they’ll take stakes in the new company, the report said. Japan’s Mitsui & Co. and Mitsubishi Corp. are partial owners of Sakhalin Energy Investment, with a 12.5 per cent stake and a 10 per cent stake in the operator, respectively. 

The decree cited threats to Russia’s national interests and economic security, according to a statement dated June 30, issued by the Kremlin and signed by Putin. 

Energy giant