Japan's Jera Signs Lng Contract With New Operator Of Sakhalin - 2 Project
Japan's largest thermal power company, JERA, says it has signed a deal with the new operator of the Sakhalin-2 oil and gas project in Russia's Far East.
Company officials made the announcement on Friday.
JERA and Tokyo Gas received new offers to buy liquefied natural gas earlier this month from the newly established Russian company taking over the project.
JERA did not provide details, but said the main conditions including purchase price and volume will remain the same.
The firm previously signed a deal for up to 2 million tons of LNG annually through 2029. That's nearly 10 percent of the company's LNG imports.
Other Japanese energy companies are also expected to sign new deals.
Two Japanese trading houses, Mitsui & Co. and Mitsubishi Corporation, have stakes in Sakhalin-2. They plan to notify the Russian government of their intention to remain invested.