Japanese Companies Could Soon Renew Deal With New Sakhalin 2 Project Operator, Reports Say
According to the Kyodo news agency, Sakhalin 2 oil and gas project accounts for 9% of Japan's LNG imports and a renewal of contracts could mitigate the need for increasing fuel prices, which would be inevitable if the country was to seek alternative LNG sources.On Wednesday, the Japanese Ministry of Economy, Trade and Industry has already asked Mitsui and Mitsubishi to consider further participation in the project, as Sakhalin-2 is an important energy provider for the country. Mitsui told Sputnik it would act accordingly and based on discussions with its partners and the state, and Mitsubishi said that there was no decision on the issue yet.The Sakhalin-2 project is exploring two reserves in Russia's Far East in the northeast of the Sakhalin shelf in the Okhotsk Sea. The infrastructure includes three offshore platforms, an integrated onshore processing facility, an oil shipping terminal and an LNG plant with a capacity of 9.6 million tonnes per year.
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