Russia sets forth new gas payment requirement

Russia has put forward a new requirement to pay for the supplies of liquefied natural gas (LNG) from the Sakhalin-2 project. The new requirements targets buyers from Japan and South Korea, Bloomberg said.

The new operator of the project sent instructions to clients saying that they would need to pay in dollars through Russia's Gazprombank, but not through foreign banks as before. Gazprom more than 50 percent of the stake in the operator company.

At least two LNG buyers already try to find out whether payments through Gazprombank would violate sanctions, Bloomberg sources sRussia sets forth new gas payment requirement to buyersay. Another option for making payments is through the Russian division of Raiffeisen, but Gazprombank, according to them, is preferable.

On August 17, it was reported that several Japanese companies purchasing LNG received notification of the transfer of the project to a new operator. The operator was changed on the basis of the decree that Russian President Putin signed on June 30.

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Author`s name: Editorial Team, Editor: Dmitry Sudakov