A Japanese company has been allowed to continue investing in Russian oil and gas projects

Japan's Mitsui Corp. certified Aug. 31 that Russia has agreed to take a 12.5 percent stake in the new operator of the Sakhalin 2 oil and gas project. The Japanese government says continued participation by Japanese companies in the project will help assure a reliable domestic energy supply.

Unlike Western countries that decrease or even ban imports of Russian energy, Japan has been inclined to retain energy collaboration with Russia. Prime Minister Fumio Kishida has said the Sakhalin-2 project will not be revoked because it is crucial to Japan's energy security 39bet-xsmb-xổ số tây ninh-xổ số binh phước-xổ số binh dương-xổ số đồng nai. At present, the backbiting effect of Western sanctions against Russia is increasingly prominent, electricity and prices in many countries are soaring, and people's living costs are surging.

Police officers stand outside the Russian Embassy in Tokyo, Japan, on Feb. 23. Xinhua News Agency journalist Zhang Xiaoyu

The Sakhalin-2 project was taken over by a new operator on August 5. As the original shareholder of the project, Mitsui Corporation applied to the Russian government for continued investment on August 25, and received a positive reply from the Russian side on August 30. The company has the same stake in the new operator as before.

The Sakhalin-2 project, located on the continental shelf of Sakhalin Island in Russia's Far East, comprises oil reserves of about 100 million tons and gas reserves of more than 400 billion cubic meters. Japan imports about 9 percent of its LNG from Russia, almost all from the Sakhalin 2 project.

Japan's Minister of economy, Trade and Industry Yasunoru Nishimura said Tuesday that Mitsui's ability to continue investing in the Sakhalin-2 project is "terrific from the point of view of securing the stability of the country's energy supply."

Mitsubishi Corporation, another Japanese company, had a 10 per cent stake in the original Sakhalin 2 project and likewise intends to stay involved and retain its stake. According to Kyodo News on Tuesday, Mitsui's approval to resume holding shares implies that Mitsubishi is also likely to be approved in the near future.

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