Japan utilities get contract offer from new Russian operator of Sakhalin-2

Japanese gas and electric utilities with long-term contracts to buy liquefied natural gas (LNG) from the Sakhalin-2 project in Russia have received a new contract offer from the newly formed Russian operator, some companies said Wednesday.

The Russian entity was registered on Aug. 5 to replace the project operator Sakhalin Energy as Moscow rewrites rules for foreign firms operating in the country amid global sanctions after its invasion of Ukraine.