GLNG: Japan vows energy supplies will not be affected by sanctions on Arctic LNG 2

Japan has declared that its energy supplies will remain unaffected by US sanctions announced on November 2 against the Arctic LNG 2 project in Russia’s northern Gydan Peninsula.

With Japan Arctic LNG BV, also known as J-Arc, holding a 10% stake in Arctic LNG 2 LLC, the operator for the Arctic LNG 2 project, the country is eligible for 2mn tonnes per year (tpy) of LNG for a 20-year period once the project becomes fully operational.

State-owned Japan Organization for Metals and Energy Security has a 75% interest in J-Arc, while Mitsui holds the remaining 25% stake.

The Arctic LNG 2 project is expected to launch before the end of the year and be fully operational in the second half of this decade.