Minister: Japanese firms to file Sakhalin-2 bids before Sep 4

TOKYO, Aug 26 (PRIME) -- The Japanese companies will file applications for participation in Russia’s liquefied natural gas (LNG) project Sakhalin-2 before September 4, Japanese Economy, Trade, and Industry Minister Yasutoshi Nishimura said in a news conference on Friday.

“We know that both companies (Mitsui & Co. Ltd and Mitsubishi Corporation) will file applications before September 4, and then the Russian government will decide about their participation. We will continue keeping an eye on the situation and we are in a contact with both companies to reach understanding so that the joint efforts of the business and the government ensure stable LNG supplies for our country,” he said.

Earlier in August, the Russian government signed a regulation to establish Sakhalinskaya Energiya (Sakhalin Energy) LLC in the city of Yuzhno-Sakhalinsk that became a new operator of the Sakhalin-2 project on August 19. Russian gas giant Gazprom owned 50% plus one share in the previous operator, while Shell had a stake of 27.5% minus one share, and Japan’s Mitsui and Mitsubishi had the stakes of 12.5% and 10%, respectively.

The government allowed all the companies to receive the same stakes in the new operator that they had in the old one.

The project accounts for about 9% of all LNG imports of Japan.

End