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Mitsui to recall employees from Arctic LNG 2 project — newspaper

The company has not formally reported such plans

TOKYO, December 26. /TASS/. Mitsui is going to recall all its employees from the Russian Arctic LNG 2 project due to US sanctions, the Sankei Shimbun newspaper reports, citing sources.

The decision was made in particular to protect these people from US restrictive measures, the newspaper said. The decision does not mean the withdrawal of the Japanese company from the project. It refers to Mitsui employees deputed to work in the Japan Arctic LNG consortium, through which the company holds the 10% stake in the LNG project together with JOGMEC.

The company has not formally reported such plans.

Participants in the Arctic LNG 2 project are Novatek (60%), TotalEnergies (10%), CNPC (10%), CNOOC (10%), and Japan Arctic LNG (10%, with 25% held by Mitsui and 75% by JOGMEC). The project stipulates construction of three trains producing liquefied natural gas with the capacity of 6.6 mln metric tons per year.

On November 2, the US Treasury Department included the Arctic LNG 2 into its sanction list. The Treasury also set January 31, 2024 as the deadline to complete transactions with the Arctic LNG 2.

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