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Japan to Ensure Supplies Amid Sanctions on Arctic LNG 2

LNG

Japan will ensure its energy supplies are not affected by the US sanctions on the Arctic LNG 2 project in Russia, which is expected to be launched next month, Industry Minister Yasutoshi Nishimura said.

  • Japan is a shareholder in the project and is eligible for 2mtpa of LNG, or 3% of the country’s total imports, once the facility is fully operational in the second half of this decade.
  • "A certain degree" of impact from the US sanctions imposed on the Siberian project last week to punish Russia for its war in Ukraine is "inevitable", Nishimura said, cited by Reuters.
  • "We will work with the G7 countries to make a comprehensive judgment and respond appropriately so as not to impair the stable energy supply to our nation," he added.
  • "We recognise that this is an important project for Japan's stable energy supply in the LNG market, where supply and demand are expected to remain tight for the time being," Nishimura said.
Energy BulletsPower BulletsBank of Japan (BOJ) Market NewsCommodities
Energy BulletsPower BulletsBank of Japan (BOJ) Market NewsCommodities

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