Japan's Mitsui nears decision to join new Sakhalin-2 operator -Nikkei
20/08/2022 05:08
TOKYO, Aug 20 (Reuters) - Japanese trading firm Mitsui & Co
8031.T is close to making a final decision to join a new
Russian operator for the Sakhalin-2 liquefied natural gas (LNG)
project, the Nikkei newspaper said, without citing sources.
Registered on Aug. 5, the new entity replaces project
operator Sakhalin Energy as Moscow rewrites the rules for
foreign firms operating in Russia, amid global sanctions
following its invasion of Ukraine. urn:newsml:reuters.com:*:nL1N2ZG0Y5
Mitsui, which does not see any conditions that disadvantage
it, will make a final decision by the end of this month and
notify Russia, the paper added.
The company and peer Mitsubishi Corp 8058.T , together held
a stake of 22.5% in Sakhalin-2. The latter is still considering
whether to join the project, the paper added.
The project is critical to the energy security of
resource-poor Japan, which imports about a tenth of its LNG from
Russia, mainly from Sakhalin-2. Japan has asked both companies
to "think positively" in joining the new entity. urn:newsml:reuters.com:*:nL1N2ZH05J
A Mitsui spokesperson declined to comment, beyond saying the
firm was in talks.
Separately, JERA, a joint venture of Tokyo Electric Power
Holdings 9501.T and Chubu Electric Power 9502.T , and Tokyo
Gas 9531.T has renewed contracts to buy LNG from Sakhalin-2,
the paper said on Friday. urn:newsml:reuters.com:*:nFWN2ZV2X4
A JERA spokesperson declined comment. A Tokyo Gas
spokesperson said nothing had been decided on the matter.
(Reporting by Junko Fujita, Miho Uranaka, Yuka Obayashi;
Editing by Clarence Fernandez)
((813-4563-2711, junko.fujita@thomsonreuters.com, Reuters
Messaging:junko.fujita.reuters.com@reuters.net;))