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Mitsui issues statement regarding Sakhalin-2 LNG project

  • March 5, 2022
  • , Nikkei , p. 7
  • JMH Translation

On March 4, Mitsui & Co. issued a statement regarding its energy operations in Russia, saying that “we remain in discussions with relevant stakeholders, including the Japanese government and business partners, regarding possible future courses of action, while taking into account energy supply needs.” The trading firm engages in resource development projects in Russia and attention is being paid to how it will respond to Russia’s invasion of Ukraine. It says that “there is no change” regarding its earnings forecast for the year ending March 2022 and shareholder return policy.

 

Mitsui participates in the “Sakhalin-2” liquified natural gas development project with Mitsubishi Corporation and others and holds a 12.5% stake of the project. It also participates in the “Arctic LNG 2” project, which is currently under development in the Yamal Peninsula, with the Japan Oil, Gas and Metals National Corporation (JOGMEC). (Abridged)

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