Mitsubishi Corp to apply for stake in new Sakhalin-2 LNG entity

Japanese 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. Mitsubishi Corp will submit an agreement form to take a stake in the project by the deadline set for Sept.

Japanese 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.

Mitsubishi Corp will submit an agreement form to take a stake in the project by the deadline set for Sept. 4, a spokesperson said. The move comes after the Japanese government asked Mitsubishi Corp to "think positively" in joining the new entity as the Sakhalin-2 is a key source of stable energy supply for Japan.

Russian President Vladimir Putin signed a decree in June to take charge of the Sakhalin-2 project in Russia's far east, raising the stakes in an economic war with the West and its allies.