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Energy

Russia's latest move on Sakhalin-2 energy project: 4 things to know

As 1-month countdown ticks off, concerns mount over Japan's LNG supply

A tanker loads LNG from the Sakhalin-2 project in October 2021. President Vladimir Putin has handed control of the energy project partly owned by Japanese companies to a Russian company.   © AP

TOKYO -- The clock is ticking for stakeholders in the Sakhalin-2 oil and gas project after Russia announced it will set up a domestic company to take over operation of the key asset.

In June, President Vladimir Putin decreed that the project must be operated by a Russian-based company, a move that comes amid global calls to ban Russian energy imports over its invasion of Ukraine.

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