Toho Gas has renewed its contract to purchase liquefied natural gas from the Sakhalin 2 oil and gas project in Russia, a company official said Tuesday, amid energy security concerns in resource-scarce Japan.
Toho Gas is the latest to join several other Japanese companies in continuing their investments in the Sakhalin 2 project. Its decision came after Russia established a new operator for the project in the Russian Far East following Western energy firms' investment withdrawals due to the Russian invasion of Ukraine.