Japan’s Ministry of Economy, Trade and Industry is urging domestic LNG importers to speed up securing alternative supplies to Russian LNG and is also accelerating its own efforts to consider contingency plans, a METI source told S&P Global Commodity Insights on July 7. The move comes as METI’s sense of crisis over potential Russian LNG supply disruptions notched higher from already a high level after the issuance of a recent Russian decree involving the shakeup of the operator of the Sakhalin 2 LNG project, the source said. The Japanese importers should take it “more realistically” to secure alternative supply sources to Russian LNG to be prepared for supply contingency, the source said, strengthening the ministry’s position earlier to reduce the Russian supply dependency. While Tokyo is requesting Moscow to clarify the recent decree, METI is stepping up its considerations of measures to be taken in the event of Russian […]