Russia takes control of an international LNG project

Russia has taken control of the international consortium behind the giant Sakhalin-2 oil and natural gas project, handing it over to a new Russian entity that will effectively give the Kremlin a say in which foreign investors will be allowed to keep their stakes .

Sakhalin-2 in Russia’s Far East is one of the largest oil and gas projects in the world, supplying around 4% of the global liquefied natural gas market and including Shell APIs and Mitsubishi among its shareholders.