Sakhalin-2 to supply Japan with a large amount of Russian LNG by 2025
Sakhalinskaya Energy, the project operator, said that Japan will purchase 58% of Russia's liquefied natural gas from Sakhalin-2 in 2025. It is also buying oil for the first time since 2012.
Japan, along with other G7 nations, has reduced its Russian imports since the beginning of Moscow's war with Ukraine in February 2020, but has retained stakes in several fossil-fuel projects in the country to ensure its energy security.
The Japanese Mitsui and Mitsubishi companies jointly own 22.5% of Sakhalin-2, which is controlled by Russia's state-controlled energy giant Gazprom.
U.S. Treasury secretary Scott Bessent stated last October that the U.S. president Donald Trump?favors an Alaska LNG project in which Japan will eventually stop receiving Russian LNG.
The project operator said that China purchased 23.9% of the LNG from Sakhalin-2 in 2012.
The project is expected to export around 10.3 million metric tons of super-cooled gas by 2025. About 17.5% of the super cooled gas was exported to South Korea.
Sakhalinskaya Energia 'also stated that the project 'produced around 26.5" million barrels or 3.3" million tons of Sakhalin blend oil last year.
Japan made its first purchase in 2022, buying 2.3% of the total. (Reporting and writing by Oksana Kobizeva, Vladimir Soldatkin, editing by Susan Fenton).
(source: Reuters)
