Sakhalin II Phase 2 backed by $5.3 billion project loan signed in 2008
Records published on 31 August 2026 detail the export finance package behind the Russian LNG project, led by JBIC with Japanese and international commercial banks.
The Sakhalin II Phase 2 LNG project in Russia was financed under a $5.3 billion loan signed in 2008, with JBIC, Japanese commercial banks and BNP Paribas among the providers.[1]
Shell's 2008 Annual Report confirms that Sakhalin Energy, JBIC and a group of international commercial banks concluded the $5.3 billion project-finance contract for the phase in June 2008.[1]
JBIC signed its own $3.7 billion project-finance loan agreement with Sakhalin Energy on 16 June 2008.[1]
That JBIC loan formed part of the wider $5.3 billion package, with up to $1.6 billion coming from commercial banks.[1]