Hmmmm - what does Japan know that we do not

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From gCaptain/Reuters:

Japan Firms To Stop Insuring Ships In All Russian Waters
Three Japanese insurance companies will stop insuring ships for damage in all Russian waters due to the war in Ukraine, potentially affecting Japan’s energy imports such as liquefied natural gas (LNG), the Nikkei newspaper said on Saturday.

Tokio Marine & Nichido Fire Insurance Co, Sompo Japan Insurance Inc and Mitsui Sumitomo Insurance Co started notifying shipowners about their decision on Friday, the business daily reported.

And not just in the Black Sea (Ukraine) or the Baltic Sea (Russia's Western port cities):

Japan’s LNG imports from Russia’s Sakhalin-2 gas and oil project could be affected, the Nikkei said. The Sakhalin Island complex, partly owned by Gazprom GAZP.MM and Japanese companies, is vital to Japan’s energy security as it accounts for 9% of the country’s LNG imports.

Sakhalin Island has huge oil and gas reserves and is a source of hard currency for Russia. Japan has little or no oil or gas reserves and has to import most of its energy.  Some coal and they are reopening a lot of their nuke plants.

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This page contains a single entry by DaveH published on December 24, 2022 4:23 PM.

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