Mitsubishi sees Russia's Sakhalin LNG as key energy source for Japan [Reuters]
MITSUI & CO LTD ADR (MITSY)
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Source: Reuters
gas (LNG) project remains a key source for Japan's energy supply, as Japanese companies maintain their Russian exposure. Although Japan has reduced its Russian energy imports since Moscow's invasion of Ukraine in February 2022, it has kept stakes in several fossil fuel projects in the country for its energy security. "The project is an extremely important source in terms of stable energy supply for Japan," Nakanishi, whose company holds a 10% stake in the Gazprom-led (GAZP.MM) , opens new tab Sakhalin-2 LNG project in Russia's far east, told a briefing. "We are carefully watching the situation," he added. Japan reduced LNG purchases from Russia by 11% last year to 6.1 million metric tons, with supplies otherwise dominated by Australia and Malaysia. Moscow remains Japan's third biggest LNG supplier with a 9% share last year. The United States, Japan's closest ally and from whom it has increased LNG purchases by nearly 34% last year, has recently paused approvals for new LNG e
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