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ECONOMY > Energy

President Putin signs decree to replace operating body of Sakhalin-2 with new Russian firm

  • July 1, 2022
  • , NHK
  • JMH Summary

NHK reported this morning that President Putin signed a decree on Thursday to replace Sakhalin Energy Investment Company, the body that operates the “Sakhalin-2” gas and oil project in Russia’s Far East, with a newly established Russian firm. According to the report, Putin signed the decree in response to a “threat to Russia’s national interest and economic security.” The network said the Russian government will establish a new firm, and foreign shareholders are expected to ask the Russian government for a stake in the new firm within one month. The network said it remains to be seen how this will affect Japanese investment in the project.

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