Japan is sounding out major oil refiners about buying Russian ultra light crude from the Sakhalin-2 gas and oil project to ensure that the plant can continue to operate smoothly, two sources with direct knowledge of the talks said.
and Japanese companies, is vital to Japan's energy security as it accounts for 9% of the country's liquefied natural gas imports.
The government's move signals a potential restart of Russian oil imports by Japan for the first time since June. This is not likely to upset its allies in Group of Seven as they have agreed to"The government is sounding out top refiners to buy oil from the Sakhalin-2 to make sure LNG supply from the project can continue," one of the sources, a senior industry official, told Reuters.
Sakhalin Blend crude exports have fallen to three cargoes per month between October and December, down from five per month before the Ukraine war, Refinitiv data showed.
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