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Sakhalin-2 Supply Will Not Immediately Cease - Japan

LNG
BulletEnergy BulletsCommodities

Russia’s decision to change the operator status of the Sakhalin-2 project does not mean that the supply of LNG will immediately cease Japanese Prime Minister Fumio Kishida said on Friday.

  • "I think that the presidential decree does not mean that supplies of LNG will immediately stop," Kishida said, adding "We need to carefully look at what requirements of the contract will be, and together with the business to decide how to react,"
  • Gazprom holds the controlling stake (50% plus 1 share) in Sakhalin Energy, Shell has 27.5%, Mitsui and Mitsubishi own 12.5% and 10% respectively.
  • Most of the LNG produced by the project is shipped to Japan.
  • Shell has said on the matter "Shell, as a shareholder of Sakhalin-2, has always acted in the best interests of the Sakhalin-2 project and in strict compliance with all applicable legal regulations. We have studied the decree and are currently assessing the requirements contained therein. At the moment, we cannot provide additional comments,"
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Russia’s decision to change the operator status of the Sakhalin-2 project does not mean that the supply of LNG will immediately cease Japanese Prime Minister Fumio Kishida said on Friday.

  • "I think that the presidential decree does not mean that supplies of LNG will immediately stop," Kishida said, adding "We need to carefully look at what requirements of the contract will be, and together with the business to decide how to react,"
  • Gazprom holds the controlling stake (50% plus 1 share) in Sakhalin Energy, Shell has 27.5%, Mitsui and Mitsubishi own 12.5% and 10% respectively.
  • Most of the LNG produced by the project is shipped to Japan.
  • Shell has said on the matter "Shell, as a shareholder of Sakhalin-2, has always acted in the best interests of the Sakhalin-2 project and in strict compliance with all applicable legal regulations. We have studied the decree and are currently assessing the requirements contained therein. At the moment, we cannot provide additional comments,"