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Sakhalin Stops a Cargo to Asia Over Payment Issue

LNG

Sakhalin has scrapped a shipment to at least one Asian customer due to payment issues according to Bloomberg. Sakhalin is now offering the prompt LNG cargo to the spot market. There have also been delays in signing revised contracts.

  • The company ownership has been transferred from a Bermuda based entity to a Russian company called Sakhalin Energy after Putin issued a decree in June.
  • Customers were asked to commit to new deals with payments to banks in Moscow, but Asian supply could be at risk with few buyers to yet sign the revised contracts.
  • Japan typically gets about 9% of its LNG from Sakhalin.
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