The Sakhalin-1 project is important for the Japanese.
Japan's Minister of Trade Yasutoshi Nishimura on October 9 said that the Sakhalin-1 oil and gas project in Russia is very important for Tokyo to ensure diversified crude oil purchases. This is reported by Reuters.
According to the agency, this comment was made after Russian President Vladimir Putin signed a decree on the establishment of a new the operator of the Sakhalin-1 project in Russia's Far East.
“From the point of view of diversifying Japanese crude oil imports, this is a very important project,” Nishimura said when asked if Japan intends to maintain its share .
Exxon Mobil Corp owns 30% of the operator's shares in “Sakhalin-1”, the partners are the Russian company “Rosneft”, the Indian ONGC Videsh and the Japanese SODECO.
In March 2022, the company ExxonMobil has announced the start of withdrawal from the Sakhalin-1 oil and gas project and that it will no longer invest in Russia. In October 2022, Rosneft, instead of ExxonMobil, was given control over the operator of the Sakhalin-1 project.
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