Russia’s control of global oil and natural gas supplies, and particularly LNG, has progressed with ExxonMobil’s exit from the Sakhalin-1 offshore oil project.

ExxonMobil disclosed exited Sakhalin-1 after Russian President Vladimir Putin signed a decree expropriating the supermajor’s 30% stake

“With its two recent decrees, the Russian government unilaterally terminated our interests in Sakhalin-1, and the project has been transferred to a Russian operator,” ExxonMobil stated.

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Although the Sakhalin-1 project is primarily oil production, the takeover of the Sakhalin-2 natural gas project too reflects Russia’s emphasis on controlling...