Russia Takes Control of International LNG Project

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

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