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Mitsui books Y20.9 billion loss from Russian LNG business

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TOKYO : Japanese trading house Mitsui & Co Ltd said on Monday it has booked a 20.9 billion yen ($160 million) loss in the January-March quarter from its liquefied natural gas (LNG) business in Russia amid the deepening Ukraine crisis.After reassessing its LNG projects to reflect a downgrade of the Russian

TOKYO : Japanese trading house Mitsui & Co Ltd said on Monday it has booked a 20.9 billion yen loss in the January-March quarter from its liquefied natural gas business in Russia amid the deepening Ukraine crisis.

After reassessing its LNG projects to reflect a downgrade of the Russian government's credit rating, fair value of Mitsui's investment in Sakhalin-2 and Arctic-2 LNG projects decreased by 80.6 billion yen, the Japanese company said.

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