Russia took control of the international consortium behind the giant Sakhalin-2 oil-and-natural-gas project, handing it over to a new Russian entity that would effectively let the Kremlin say which foreign investors were required to hold their stake. will be allowed.
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 oyster PLC and Mitsubishi among its shareholders.