“The Sakhalin project has already tied up 3.4 million metric tonnes per year LNG sales into Japan, and hopes to announce the next customer in Japan in the coming two months," De Wit said.

"Shell sees Japan as the core market for the Sakhalin project and [it will] absorb at least half of the 9.6 million metric tonnes.”

Compared with cargoes from Australia and the Middle East, LNG from the Sakhalin project would offer significant freight savings for the traditional LNG importers in Japan and future gas markets in northern China, De Wit said.