LogIn LogOut

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

March 25, 2022

Illustration: Orlan offshore platform in Sakhalin - Credit Sakhalin-1
Illustration: Orlan offshore platform in Sakhalin - Credit Sakhalin-1

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)




Current News

Malaysia's Kimanis Crude Exports to Drop in July After Offshore Outage

Malaysia's Kimanis Crude Exports to Drop in July After Offshore Outage

Borr Drilling Finds More Work for Saga Jack-up Drilling Rig

Borr Drilling Finds More Work for Saga Jack-up Drilling Rig

Ørsted, TSS Hold Naming Ceremony for First Asia-built SOV

Ørsted, TSS Hold Naming Ceremony for First Asia-built SOV

Chevron Wraps Up Wheatstone Maintenance

Chevron Wraps Up Wheatstone Maintenance

Bahrain State Oil Company to Appoint Financial Adviser, CEO Says

Bahrain State Oil Company to Appoint Financial Adviser, CEO Says

Woodside Sees Slim Risk of Big Share Selloff by BHP Investors

Woodside Sees Slim Risk of Big Share Selloff by BHP Investors

Saudi Arabia Set for Oil Output Capacity Above 13 mln bpd by 2027

Saudi Arabia Set for Oil Output Capacity Above 13 mln bpd by 2027
photo

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