Russian president Putin wants to take control of the Sakhalin-2 oil and gas project and push out foreign players.
The rights to the offshore facility, which includes Russia's firstLNG plant, should be handed over to a new Russian company within 30 days. Stakeholders may not be fully compensated if they do not take a stake in the company.
As Western nations impose sanctions on Russian energy, Putin is moving to take control of Russia's oil and gas facilities.
After Russia invaded Ukraine, Shell decided to pull out of Sakhalin-2.
Shell has always acted in the best interests of Sakhalin-2 as a shareholder, according to a spokesman. The decree is being assessed and we are aware of it.
The majority of the gas produced at Sakhalin-2 is used in Japan, and trading houses have a stake in it. The prime minister of Japan said in March that the country wouldn't withdraw from Sakhalin-2.
Japan's deputy chief cabinet secretary said that the country's interest must not be undermined by Putin's seizure of the oil and gas facility.
After the decree was issued, Shell shares fell. In Japanese trading hours, the two companies plummeted.
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