MOL chartered a russian gas carrier to continue participation in “Sakhalin-2”
5.10.2022 - 17:50
On October 4, Japan’s Mitsui OSK Lines (MOL) signed a long-term charter contract for the russian gas carrier Grand Mereya for continued participation in the “Sakhalin-2” project.
MOL, through its subsidiary, signed a contract with the new operator Sakhalin Energy LLC.
The vessel Grand Mereya transported gas under a long-term charter contract with Sakhalin Energy, the former operator of the project, but now the contract has been signed with Sakhalin Energy LLC.
At the same time, MOL stated that it adheres to Western sanctions imposed against russia due to its invasion of Ukraine. The company also said it continues to consult with various parties, including the Japanese government and project partners.
“Sakhalin-2” is an oil and gas project that involves the development of two offshore fields on the island of Sakhalin. The structure of the project includes three marine platforms, LNG plant, oil shipment terminal, “Prigorodnoe” port, etc.
The former operator of the project is Sakhalin Energy, whose shares are distributed between Gazprom, Shell, Mitsui and Mitsubishi. “Sakhalin-2” is implemented under the terms of a production sharing agreement: 60% of LNG is destined for Japan.
“Sakhalin-2” is one of the largest LNG projects in the world, providing about 4% of the global market.
