BUSINESS

U.S. sanctions on Russia LNG won't harm supplies, minister says

A structure of the Arctic LNG 2 joint venture is seen under construction near the settlement of Belokamenka, Murmansk region, Russia, in July last year | REUTERS

By Miho Uranaka and Yoshifumi Takemoto

Nov 7, 2023

Japan will make sure its energy supplies are not affected by sanctions the United States recently imposed on the Arctic LNG 2 project in Russia in which it has a stake, Industry Minister Yasutoshi Nishimura said on Tuesday.

Japan, the world's second-largest liquefied natural gas (LNG) buyer, relies on LNG as a transition fuel before it reaches carbon neutrality in 2050, and has supply contracts and stakes in projects globally to guarantee imports.

The Arctic LNG 2 project is to be launched next month, with shareholder Japan eligible for 2 million metric tons of LNG per year, or 3% of total imports, once the plant is fully operational in the second half of this decade.

U.S. sanctions on Russia LNG won't harm supplies, minister says

In your social network

In your inbox

In your social network

In your inbox