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12:01 a.m.: Japanese trading house Mitsubishi Corp. said on Thursday it has decided to apply for a stake in the new Russian entity that took over the Sakhalin-2 liquefied natural gas (LNG) project, according to Reuters.

The move comes after the Japanese government asked Mitsubishi Corp to “think positively” about joining the new entity as the Sakhalin-2 is a key source of stable energy supplies for Japan.

Shares in Mitsubishi were up more than 2% after the news, outperforming a broader Nikkei index .N225 which was up 0.5%. “A resolution was passed this morning regarding the submission of a consent to take a stake. The consent will be filed by the deadline,” a Mitsubishi spokesperson said, referring to the September 4 deadline.

Another shareholder, Mitsui & Co 8031.T, said it is still in talks with relevant parties, declining to elaborate.

Russian President Vladimir Putin signed a decree in June to take charge of the Sakhalin-2 project in Russia’s far east, raising the stakes in an economic war with the West and its allies. The order created a new Russian entity to take over all rights and obligations of the previous operator Sakhalin Energy Investment, in which Shell and two Japanese trading companies hold just under 50%.

A Russian government decree signed early in August gave the foreign investors a month to claim their stakes in the new entity.

Some information for this report came from Reuters.