Mitsui OSK Signs Charter With New Russian Operator of Sakhalin-2 LNG project

Wednesday, October 5, 2022

Japan's Mitsui OSK Lines (MOL) said on Wednesday it had signed a long-term charter contract with the new Russian operator of the Sakhalin-2 liquefied natural gas (LNG) project for LNG carrier Grand Mereya to continue its shipping service.

Russian President Vladimir Putin signed a decree in June taking charge of the LNG project, creating a new legal entity to deal with buyers and shareholders. 

MOL's move comes after Japanese utilities, such as JERA and Tokyo Gas, signed deals with the new Russian operator to maintain long-term deliveries of LNG and Japanese trading houses Mitsui & Co and Mitsubishi Corp were approved by Russia to take a stake in the new operator. 

MOL signed the contract with new operator Sakhalin Energy LLC on Tuesday through a subsidiary which is 60% owned by MOL, it said in a statement.

The vessel has been transporting LNG from the project under a long-term charter contract with Sakhalin Energy Investment Company Ltd, the former operator, and will continue the same services with the new operator, MOL said.

MOL said it complied with sanctions imposed by the international community - in a likely reference to Western measures against Russian over its invasion of Ukraine - and that it continued to consult with various parties, including the Japanese government and project partners.

Sakhalin-2 is one of the world's largest LNG projects, supplying about 4% of the global market.


(Reuters - Reporting by Yuka Obayashi/Editing by Mark Potter)

Categories: Vessels Asia LNG Carriers

Related Stories

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

Ventura Offshore’s Semi-Sub Rig to Keep Drilling for Eni in Asia

SBM Offshore Starts Construction of FSO for Trion Oil Field off Mexico

Seatrium Secures ABS Backing for Deepwater FPSO Design

Hanwha Ocean's Tidal Action Drillship Starts Maiden Job with Petrobras

Aquaterra Energy Nets Subsea Analysis Contracts with INPEX off Indonesia

Marco Polo Picks Salt Ship Design for Next-Gen Offshore Energy CSOV

Allseas-Boskalis Consortium Bags $1.4B Offshore Gas Pipeline Job in Taiwan

Yinson Production, “K” LINE Target Europe's CCS with FSIU and LCO2 Solutions

Current News

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

US Pressure on India Could Propel Russia's Shadow Oil Exports

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

RINA Wins FEED Contract for Petronas’ Flagship CCS Project in Malaysia

ABL Secures Rig Moving Assignment with India's ONGC

Pakistan, Türkiye Deepen Oil and Gas Ties with Offshore Indus-C Block Deal

Eni-Petronas Gas Joint Venture Up for Launch in 2026

Vietsovpetro Brings BK-24 Oil Platform Online Two Months Early

Propane’s Economic Edge for Ports During Trade Uncertainty

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com