Japan is not considering suspending arctic LNG 2 project
3/30/2022
Japan is not at this moment considering suspending Arctic LNG 2, a LNG development project in the Russian Arctic, the country's industry minister Koichi Hagiuda said on Wednesday.
The remark was made after the Nikkei newspaper reported last week that Japan and France have frozen new investment in the Arctic LNG 2 as financial institutions have not been able to remit the money due to sanctions imposed on Russia.
The project's shareholders are Novatek (60%), France's TotalEnergies (10%), Japan Arctic LNG, a consortium of Mitsui & Co and JOGMEC (10%), CNPC (10%) and CNOOC (10%).
Reporting by Mariko Katsumura Editing by Shri Navaratnam
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