The Japan Oil, Gas and Metals National Corporation (or JOGMEC), is a Japanese government Independent Administrative Institution which was created in 2004 when the former Japan National Oil Corporation merged with the former Metal Mining Agency of Japan.

Mitsui and JOGMEC own shares of 10% in Arctic LNG 2. Companies from China, Japan and France refused to finance Russia's large LNG project due to sanctions. We are talking about the Chinese CNPC and CNOOC, the Japanese Mitsui and JOGMEC consortium, as well as the French TotalEnergies. Each of them owns 10% of Arctic LNG-2, and 60% belongs to NOVATEK. At the same time, Mitsui's joint venture with Japan's JOGMEC is expected to retain its stakes in the Arctic LNG 2, the report said.

The Company Statement
May 16, 2023

The consortium consisting of Mitsui & Co and the Japanese national oil and metals company JOGMEC retained a ten percent stake in the Novatek Arctic LNG-2 project. With the only clarification that since March of last year, Japan has frozen new investments in this project due to financial sanctions.

December 26, 2023Japan's Mitsui to pull employees out of Russia's Arctic LNG 2 -Sankei
December 26, 2023The Russian Arctic LNG 2 project targeted by U.S. sanctions
December 25, 2023Companies from China, Japan and France refused to finance a large Russian LNG project due to sanctions
September 16, 2023Japanese Mitsui will comply with indirect US sanctions against Arctic LNG 2. In it, Mitsui and JOGMEC own shares of 10%.
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