Both Mitsui & Co and Mitsubishi Corporation retain their shares in Sakhalin 2 Project in Russia. The RF Government has authorized the transfer of shares in Sakhalin Energy LLC, the project operator, to their subsidiaries.
In accordance with the decree signed by RF Premier Mikhail Mishustin on August 26, MIT SEL Investment Ltd, a 100% subsidiary of Mitsui & Co registered in Dubai, is entitled to 12.5% in Sakhalin Energy LLC.
On August 31, a decree entitling DGS Japan Co Ltd, a 100% subsidiary of Mitsubishi Corporation, to a 10% share in Sakhalin Energy LLC, was signed.
Both the Japanese companies earlier submitted a consent to take ownership of shares in Sakhalin Energy LLC, a newly established company to operate Sakhalin 2 Project, based on the RF Presidential Decree dated June 30, 2022 (No.416) and Governmental Decree dated August 2, 2022 (No.1369).
The shares they are allowed to retain are proportionate to those they held in Sakhalin Energy Investment Company Ltd.