TOKYO (Reuters) – 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 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.
($1 = 130.3000 yen)
(Reporting by Yuka Obayashi; Editing by Tom Hogue)
