![]() “This could potentially have a more significant impact compared to previous sanctions,” said Kaushal Ramesh, a vice president of LNG and power markets research at Rystad Energy. Sanctions so far have largely avoided Russian gas, which is still delivered to Japan and Europe. The new sanctions on Arctic LNG 2 will test Japan’s relationships with other Group of Seven nations, which are taking an increasingly harder line against Russia as the war in Ukraine drags on. In contrast, Shell Plc - the biggest foreign shareholder in the plant just north of Japan - dropped its stake after Moscow’s invasion of Ukraine. to hold onto investments in the Sakhalin-2 LNG facility in Russia’s far east last year. Japan insists that Russian LNG is required to meet energy needs and last year urged Mitsui & Co. The nation has few resources of its own, and stepped up efforts to secure LNG after last year’s energy crisis. While Japan has slapped restrictions on Russia and banned the import of coal, its government has drawn a line at natural gas, used to generate about a third of its electricity and heat homes. This is the first US sanction to directly target an LNG export plant in Russia, and companies are still examining the potential impact. The US on Thursday imposed the measures on Novatek PJSC’s Arctic LNG 2 project, which includes Japan’s government as an investor and is set to start exports in the coming months. ![]() Harvard, Yale Warned by Top Law Firms About Antisemitism ![]() Hedge Fund Executive’s Sudden Death Exposes a Firm Deep in TroubleĪpple Warns of Sluggish Holiday Quarter After China Slowdown Sam Bankman-Fried Convicted of Fraud in Stunning FTX Crash ![]() (Bloomberg) - US sanctions on a major new Russian liquefied natural gas export plant threatens to pit Japan’s energy-security drive against its relationship with western allies.Īmazon’s Jeff Bezos Announces Move to Miami From Seattle ![]()
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