Sakhalin Energy Projects in Russia are Important for Japan - Gov't Spokesman

Kiyoshi Takenaka
Friday, March 25, 2022

Japan aims to reduce its dependence on Russian energy, but Sakhalin oil and gas projects, in which the Japanese government and companies hold stakes, are important for its energy security, Japan's top government spokesman said on Friday.

Shell and Exxon Mobil have announced plans to exit the Sakhalin-1 and 2 oil and gas projects in Russia's Far East, respectively, in light of the Russian invasion of Ukraine. Russia calls its actions in Ukraine a "special military operation".

The Sakhalin 1 project is 30% owned by Sakhalin Oil and Gas Development (SODECO), which is in turn held by the Japanese government and several Japanese companies including trading houses Itochu Corp and Marubeni Corp.

Two other leading Japanese traders, Mitsui & Co and Mitsubishi Corp, own stakes of 12.5% and 10% respectively in the Sakhalin 2 project.

(Reuters - Reporting by Kiyoshi Takenaka; editing by Philippa Fletcher)


Categories: Energy Industry News Activity Europe Production Asia LNG. Gas

Related Stories

Southeast Asia’s 2GW Cross-Border Offshore Wind Scheme Targets 2034 Buildout

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

US Pressure on India Could Propel Russia's Shadow Oil Exports

Eni-Petronas Gas Joint Venture Up for Launch in 2026

Timor Gap Boosts Stake in Finder Energy’s Timor-Leste Oil Fields

Saipem Bags $1.5B Contract for Türkiye Largest Offshore Gas Field

CNOOC Brings New Offshore Gas Field On Stream

China Starts Production at Major Oil Field in Bohai Sea

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Current News

Russia's Lukoil Takes Up Gunvor’s Offer for Foreign Assets

How Hot Is Your Cable? Understanding Subsea Cable Thermal Performance

Sponsored: UAE Breaks Ground on GW-Scale Renewable Energy Hybrid

Pertamina Joins Petronas in Ultra-Deepwater Asset off Indonesia

Malaysia’s Petronas and Oman’s OQEP Strengthen Oil and Gas Ties

Southeast Asia’s 2GW Cross-Border Offshore Wind Scheme Targets 2034 Buildout

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

US Pressure on India Could Propel Russia's Shadow Oil Exports

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com