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Japan’s authorities to consider consequences of US sanctions against Arctic LNG 2

On November 2, the US Treasury Department included the Arctic LNG 2 into the sanction list

TOKYO, November 7. /TASS/. The Japanese government will study the situation related to introduction of sanctions against the Arctic LNG 2 project, Economy Minister Yasutoshi Nishimura told reporters.

"We plan to thoroughly consider this matter in cooperation with the parties involved," the minister said. Sanctions against the Arctic LNG 2 will have a certain effect and Japan is going in this regard "to interact with countries of the Group of Seven to prevent disruptions of smooth energy supplies," he noted.

On November 2, the US Treasury Department included the Arctic LNG 2 into the sanction list. Project participants are Novatek (60%), TotalEnergies (10%), CNPC (10%), CNOOC (10%), and Japan Arctic LNG, where 25% are held by Mitsui and 75% - by JOGMEC.

The project stipulates construction of three liquefied natural gas production trains with the capacity of 6.6 mln metric tons per year.