Media: Toho Gas renegotiated the contract for the purchase of LNG from Sakhalin-2

MOSCOW, 20 Sep — PRIME. The Japanese company Toho Gas has signed a contract with the new operator of the Russian project for the production of liquefied natural gas (LNG) Sakhalin-2 for the supply of this energy resource, the Kyodo news agency reported.

The government clarified the requirements for the buyer of a stake in Sakhalin-2

According to the terms of the signed contract, the Japanese side will purchase 500,000 tons of LNG annually until 2033.

Earlier contracts were also renegotiated by Japanese JERA, a joint venture between Tokyo Electric Power Co and Chubu Electric Power Co, Tokyo Gas, Hiroshima Gas and Kyushu Electric Power. In addition, the Japanese companies Mitsui&Co and Mitsubishi Corporation received permission from the Russian government to transfer shares in the new Sakhalin-2 operator.

On June 30, Russian President Vladimir Putin signed a decree ordering the replacement of the operator of the Sakhalin-2 project with a new, Russian, legal entity. In the former operator, Sakhalin Energy, Gazprom owned 50% plus one share, Shell 27.5% minus one share, Mitsui 12.5%, Mitsubishi 10%.

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The new operator (OOO Sakhalin Energy) was established on August 5 with a 50% stake in Gazprom Sakhalin Holding. The Government of the Russian Federation allowed the Japanese companies Mitsui&Co and Mitsubishi Corporation to transfer their shares in the project. Shell announced in September that it would not participate in the new operator.

Sakhalin-2 also has other long-term contracts. In particular, with Japanese Tohoku Electric, Osaka Gas, Saibu Gas, South Korean Kogas, Taiwanese CPC, the former Gazprom structure Gazprom Global LNG (fell under counter-sanctions of the Russian Federation).


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