Japanese underwriters secure war risk cover for Sakhalin LNG project in last-minute deal

A potential crisis over war risk insurance cover for LNG carriers operating on the Russian Sakhalin-2 LNG export project to Japan has been resolved.

Reinsurers said they would put a Russian conflict exclusion clause on cover provided to Japanese underwriters of the war risk policies for three LNG carriers trading on the project. The clause applies to all Russian ports.