Aug 3 (Reuters) - Russian energy giant Gazprom will receive 50% of a new Russian entity replacing the Sakhalin Energy liquified natural gas (LNG) project, TASS news agency reported on Wednesday.

Japanese trading houses Mitsui & Co and Mitsubishi Corp on Tuesday cut the value of their stakes in the Sakhalin-2 LNG project in Russia by 217.7 billion yen after Moscow's move to seize control of the project. (Reporting by Reuters Editing by David Goodman )