US sanctions will not affect Osaka Gas's Russian LNG purchases

The latest U.S. sanctions against Russia will not impact Osaka Gas's long-term purchases of Russian liquefied natural gas (LNG) from the Sakhalin-2 project. Osaka Gas's president confirmed that they do not use Gazprombank for payment. The U.S. Treasury recently sanctioned Gazprombank and over 50 other Russian financial entities as part of efforts to limit Russia's financial activities. However, these sanctions do not affect Osaka Gas's transactions. While European imports of Russian LNG have increased, overall reliance on Russian gas has decreased. The sanctions come amid concerns in Europe as winter approaches and gas supply issues arise.