Interesting news out, which might impact the Japanese LNG import...

Interesting news out, which might impact the Japanese LNG import from the Russian Sakhalin-2 project:

Snippet:

Three Japanese insurance companies will stop insuring ships for damage in all Russian waters due to the war in Ukraine, potentially affecting Japan’s energy imports including liquefied natural gas (LNG), the Nikkei newspaper said on Saturday.

Tokio Marine & Nichido Fire Insurance Co, Sompo Japan Insurance Inc and Mitsui Sumitomo Insurance Co started notifying shipowners about their decision on Friday, the business daily reported.

Reuters news

The Sakhalin-2 project is partly owned by Mitsui (12.5%) and Mitsubishi (10%) (the MiMi consortium are owning 1/6 of the NWS project as well…). Remaining western partner Shell (27.5%) already left the JV as a response to the Russian war in the Ukraine but Japan rely heavily on the LNG import from this project as it alone accounts for 9% of the entire Japanese LNG imports.

…Any disruption or long-lasting uncertainty for the Japanese partners from Sakhalin-2 might put some pressure to look-out for alternative supply opportunities…