Japanese MOL renewed the contract with the new Sakhalin-2 operator

TOKYO, Oct 5 – PRIME. The Japanese shipping company Mitsui OSK Lines (MOL) has renegotiated a contract with the new operator of Sakhalin-2 LLC Sakhalin Energy for the transportation of LNG by the Grand Mereya tanker, the Japanese company said on its official website.

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“Through its subsidiary Mitsui OSK Lines terminated the contract between the former Sakhalin-2 operator Sakhalin Energy and the LNG tanker Grand Mereya and entered into a long-term contract with the new operator Sakhalin Energy LLC on October 4. Thus, we will be able to continue providing transportation services,” the company said in a statement.

On August 3, the Government of the Russian Federation decided to create a new Sakhalin-2 operator represented by Sakhalin Energy LLC with registration in Yuzhno-Sakhalinsk. The new operator was created on August 5 with a 50% stake in Gazprom Sakhalin Holding. The Russian government allowed the Japanese companies Mitsui and Mitsubishi to transfer their shares in the project (12.5% ​​and 10%, respectively). Shell, which accounted for the remaining 27.5%, has already said it will not participate in the new operator.

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Sakhalin-2 is an oil and gas project that develops two oil and gas fields in the northeast of the Sakhalin shelf – Piltun-Astokhskoye (mainly oil) and Lunskoye (mainly gas). Its infrastructure includes, in particular, a gas liquefaction plant with a design capacity of 9.6 million tons per year. This production gives Japan about 9% of all LNG it imports. The country’s government has repeatedly emphasized the importance of Sakhalin-2 for ensuring stable gas supplies to Japan at reasonable prices.

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