• Natural Gas News

    Toho Gas renews deal to buy LNG from Sakhalin 2: press

Summary

Under the new deal, Toho Gas will still procure about 500,000 metric tons/year of LNG until 2033.

by: Shardul Sharma

Posted in:

Complimentary, Natural Gas & LNG News, Asia/Oceania, Liquefied Natural Gas (LNG), Corporate, Political, News By Country, Japan

Toho Gas renews deal to buy LNG from Sakhalin 2: press

Japan’s Toho Gas Co. has renewed its contract to purchase LNG from the Sakhalin 2 project in Russia, Kyodo reported on September 20.

The decision came after Russia established a new operator for the project following energy firms' investment withdrawals due to the Russian invasion of Ukraine.

Under the new deal, Toho Gas will still procure about 500,000 metric tons/year of LNG until 2033. The contract with the new operator is on the same terms as the previous operator, Kyodo said.

Other Japanese energy companies such as Jera, Kyushu Electric Power and Hiroshima Gas have also signed agreements with the new operator. Russia has also authorised investments by major Japanese trading houses Mitsui & Co. and Mitsubishi Corp. in the project under the new operator.