Japan Continues Viewing Sakhalin-2 as Important Project for Energy Security

Tokyo continues viewing the Sakhalin-2 project as important from the standpoint of providing power and gas supplies to Japan and intends to continue protecting its interests in the project, spokesman of the Japan’s government Seiji Kihara said on Monday.
“The Sakhalin-2 is an important project for Japan from the standpoint of electric power and gas provision. The government and the business will act together to protect stable supplies of liquefied natural gas,” Kihara said. Tokyo so far is continuing gathering information about the effect of Russia’s decision to transfer project management to a newly created company on stakes held by Mitsui and Mitsubishi in the project, he added.
Russian President Vladimir Putin signed the executive order on July 1, whereby a newly created company will become the Sakhalin-2 project operator. Gazprom has the controlling stake (50% plus one share) in the project. Shell has 27.5% of shares, Mitsui and Mitsubishi – 12.5% and 10% accordingly. The greater portion of liquefied natural gas produced as part of the project is supplied to Japan.

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