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Japan still intends to keep stake in Sakhalin-1 oil project -industry minister

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TOKYO : Japan's intention to keep its stake in the Sakhalin-1 oil and gas project in Russia is unchanged, the industry minister Koichi Hagiuda said on Monday, after Russia banned Western investors from selling shares in key energy projects.The government also hopes Japanese trading houses Mitsui & Co and

TOKYO : Japan's intention to keep its stake in the Sakhalin-1 oil and gas project in Russia is unchanged, the industry minister Koichi Hagiuda said on Monday, after Russia banned Western investors from selling shares in key energy projects.

The government also hopes Japanese trading houses Mitsui & Co and Mitsubishi Corp, which own stakes in the Sakhalin-2 liquefied natural gas project, will start the procedure of investing in the new entity that has been formed to replace the project, Hagiuda told a news conference.

 

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