Japan is looking to further diversify its LNG supply to shore up energy security as sanctions against Russian terminals, labor strikes in Australia and now a conflict in the Middle East, provide more threats for the global LNG market.

“The Group of Seven (G7) Partners are committed to working jointly to deny Russia future energy revenues, the reason why you saw our last sanctions package including measures specifically targeting the Arctic LNG 2 project in Russia,” Geoffrey Pyatt, US Assistant Secretary of State for Energy Resources said at a Bangkok press briefing last week, following his Tokyo visit.

Although U.S. sanctions announced last month are not directly aimed at the Arctic LNG 2 facility in the Russian Arctic,, the impact on several Russian companies providing...