Buyers In Japan And South Korea Renew Long-Term Deals With Russian LNG Project

The Sakhalin-2 LNG project could see its revenues double in 2023 compared to before the Russian invasion of Ukraine as LNG prices are now higher and many of the long-term Asian buyers have renewed their deals, Reuters reported on Wednesday, citing analysts and its own calculations. Most long-term LNG buyers of the Sakhalin-2 project, including from Japan and South Korea, have continued to buy gas from the venture, even though Western majors quit en masse operations in Russia after the Russian invasion of Ukraine in February 2022, including Shell,…