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Energy

Japanese buyers renew LNG contracts with new Sakhalin-2 operator

Tokyo Gas and JERA keep access to Russian energy ahead of winter squeeze

The liquefied natural gas plant on Russia's Sakhalin Island.   © Reuters

TOKYO -- Japanese energy importer JERA and Tokyo Gas have renewed their contracts to buy liquefied natural gas from Russia's Sakhalin-2 project under its new operator, Nikkei learned Friday.

The entity set up Aug. 5 by the Russian government to take control of the project in Russia's Far East offered the same purchasing terms, including prices and volumes. JERA -- a joint venture between Tokyo Electric Power Co. Holdings and Chubu Electric Power -- and Tokyo Gas apparently decided to renew in light of these conditions.

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