Japan Fear Unstable Fuel Supply

Japan said there was "a rising risk of not being capable of ensuring stable fuels procurement," in light of the Russian fuel uncertainty according to documents presented at a ministerial meeting today.

• "Our country's stable energy supply is in unpredictable situations amid a risk of Russian LNG supply disruptions rising to a level like never before," the documents noted.
• Over half of the 9.6 million mt/year LNG production capacity at the Sakhalin 2 project is committed to Japanese offtakers, and Sakhalin 2 LNG accounts for almost all of Japan's LNG imports from Russia.
• Russia accounted for 9% of Japan's total LNG imports of 74.32 million mt as the fifth largest supplier in 2021, according to data from Japan's Ministry of Finance.