The Sakhalin-1 oil and gas project in the Russian Far East appeared to have resumed operation after five months of suspension due to Exxon’s withdrawal, as the first tanker departed the terminal on Oct. 30.
Bloomberg reported that a vessel carrying Russian Sokol crude sailed from the De Kastri terminal to South Korea on Oct. 30. But it is unclear whether the cargo will be delivered or transferred to another ship once it arrives at Yeosu port on Nov. 3.
Production at the Sakhalin-1 project was previously halted after U.S. energy company Exxon Mobil Corp., in April, declared force majeure (a clause in a contract which frees both parties from liability owing to an extraordinary event) because of the international sanctions imposed on Russia for its invasion of Ukraine….