Japanese utilities consider renewing deal with new Sakhalin operator

Some of the Japanese utilities that have been purchasing liquefied natural gas from Russia’s Sakhalin-2 oil and gas project are considering renewing their contracts with the new operator that Moscow set up earlier this month after taking control of the project, sources familiar with the matter said Friday.

The new operator has offered the same contract terms as those of the previous entity after being established Aug. 5 under a decree by Russian President Vladimir Putin following the exit of some foreign shareholders because of Russia’s invasion of Ukraine.