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

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 66%

United States News News

United States United States Latest News,United States United States Headlines

TOKYO : Japan intends to keep a stake in the Sakhalin-1 oil and gas project in Russia, industry minister Koichi Hagiuda said on Monday, after Russia temporarily banned Western investors from selling shares in key energy projects.The project contributed to diversifying Japan's energy supply, Hagiuda told a

TOKYO : Japan intends to keep a stake in the Sakhalin-1 oil and gas project in Russia, industry minister Koichi Hagiuda said on Monday, after Russia temporarily banned Western investors from selling shares in key energy projects."Sakhalin-1 is a valuable non-Middle East source for Japan, which depends on the Middle East for 90 per cent of its crude oil imports," said Haguida, the minister for economy, trade and industry.

Hagiuda reiterated that Japan intended to have the Japanese trading houses maintaining stakes in Sakhalin-2."The public and private sectors will work together to ensure a stable supply of LNG to Japan," Hagiuda said. They shared a basic policy on maintaining the stakes, and he hoped the trading houses would start the procedure for converting to the new entity if they could meet Russia's conditions.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Japan still intends to keep stake in Sakhalin-1 oil project -industry ministerTOKYO : 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 ProfitsGenocide
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »