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Japan's Mitsui nears decision to join new Sakhalin-2 operator -Nikkei

TOKYO (Reuters) - Japanese trading firm Mitsui & Co is close to making a final decision to join a new Russian operator for the Sakhalin-2 liquefied natural gas (LNG) project, the...
Japan's Mitsui nears decision to join new Sakhalin-2 operator -Nikkei © Reuters. FILE PHOTO: The logo of Japanese trading company Mitsui & Co. is seen in Tokyo, Japan, January 10, 2018. REUTERS/Toru Hanai

TOKYO (Reuters) - Japanese trading firm Mitsui & Co is close to making a final decision to join a new Russian operator for the Sakhalin-2 liquefied natural gas (LNG) project, the Nikkei newspaper said, without citing sources.

Registered on Aug. 5, the new entity replaces project operator Sakhalin Energy as Moscow rewrites the rules for foreign firms operating in Russia, amid global sanctionsfollowing its invasion of Ukraine.

Mitsui, which does not see any conditions that disadvantage it, will make a final decision by the end of this month and notify Russia, the paper added.

The company and peer Mitsubishi Corp, together held a stake of 22.5% in Sakhalin-2. The latter is still considering whether to join the project, the paper added.

The project is critical to the energy security of resource-poor Japan, which imports about a tenth of its LNG from Russia, mainly from Sakhalin-2. Japan has asked both companies to "think positively" in joining the new entity.

A Mitsui spokesperson declined to comment, beyond saying the firm was in talks.

Separately, JERA, a joint venture of Tokyo Electric Power Holdings and Chubu Electric Power, and Tokyo Gas has renewed contracts to buy LNG from Sakhalin-2, the paper said on Friday.

A JERA spokesperson declined comment. A Tokyo Gas spokesperson said nothing had been decided on the matter.

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01-05-2024 10:45:17 (UTC+7)

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EUR/USD

1.0658

-0.0008 (-0.07%)

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GBP/USD

1.2475

-0.0015 (-0.12%)

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USD/JPY

157.91

+0.12 (+0.07%)

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0.6469

-0.0003 (-0.05%)

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Neutral

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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Cập nhật lúc 10:45:15 01/05/2024
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