LNG Contract
Two Japanese companies sign LNG contract with Sakhalin-2
Tokyo/UNI: Two Japanese energy corporations, Tokyo Gas and Kyushu Electric Power have signed a contract with a new Sakhalin-2 project operator to buy liquefied natural gas, Japanese media reported Tuesday.
"Tokyo Gas and Kyushu Electric Power have announced on August 30 that they have signed a contract with Sakhalin Energy LLC, a new Sakhalin-2 project operator, to continue LNG purchases," the Kyodo news agency reported.
It comes after the Japanese energy company JERA signed a new contract with Sakhalin Energy LLC earlier in the month.
The new operator of Sakhalin-2, which received the rights and obligations of the previous operator Sakhalin Energy Investment Company Ltd. on Aug. 19, was established on Aug. 5 under a decree by the Russian President Vladimir Putin in response to changes in policy by foreign states toward Russia in wake of its military operations in Ukraine.
International partners of the previous operator could stay in the project if they submit formal requests by Sept. 4.
Earlier, it was reported that Japan's Mitsubishi and Mitsui & Co. decided to further participate in the project whereas Shell would not renew its deals with Sakhalin Energy LLC.
The Sakhalin-2 project is exploring two reserves in Russia's Far East in the northeast of the Sakhalin shelf in the Okhotsk Sea.
The infrastructure includes three offshore platforms, an integrated onshore processing facility, an oil shipping terminal and an LNG plant with a capacity of 9.6 million tonnes per year.
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