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Sakhalin-2 Customers to Pay Russian Bank

LNG

Russia has asked customers of it’s Sakhalin-2 LNG project to make payments through a Russian bank as part of Putin’s recent changes in the projects structure.

  • The terms of the contracts -- the currency, volumes, prices and delivery locations -- will remain intact according to Bloomberg.
  • Gazprombank JSC will be used for transactions with the new company.
  • Russia said last month that it’s transferring rights to the project from Bermuda-registered Sakhalin Energy to a new Russian limited liability company, citing national interests and economic security.
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Russia has asked customers of it’s Sakhalin-2 LNG project to make payments through a Russian bank as part of Putin’s recent changes in the projects structure.

  • The terms of the contracts -- the currency, volumes, prices and delivery locations -- will remain intact according to Bloomberg.
  • Gazprombank JSC will be used for transactions with the new company.
  • Russia said last month that it’s transferring rights to the project from Bermuda-registered Sakhalin Energy to a new Russian limited liability company, citing national interests and economic security.