Jera Co. Inc., the world’s largest importer of LNG, has renewed its offtake contract for Russia’s recently nationalized Sakhalin-2 natural gas project ahead of a Kremlin-imposed deadline.

The Japanese joint venture between Tokyo Electric Power Co. and Chubu Electric

Power Co. In. confirmed to multiple media outlets Friday it has signed a deal to continue receiving long-term deliveries of liquefied natural gas. The company hasn’t disclosed the details of the contract, but a spokesperson told Japan’s Kyodo News price and volumes would remain the same as its previous contract.

The news ended months of speculation over whether the key LNG supply project for Japan would retain its largest clients after Russia’s President Putin signed a June decree to take full control under...