LNG

The European Union and Japan said after meetings in Brussels that they were committed to work closely to address the current challenges in energy markets worldwide, including LNG and pipeline natural gas supplies.

Japan would pay one-third more per annum for imported liquefied natural gas if it followed the route of Shell and exited the Sakhalin II LNG project in the Russian Far East where two Japanese trading houses are shareholders.

Japanese companies have begun moving towards imposing sanctions together with the US, the European Union members and other nations and targeting the sensitive areas for Japan of oil and liquefied natural gas imports after the invasion of Ukraine by its neighbour Russia.