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Industry Minister Hagiuda says Japan will not withdraw from oil, gas projects in Russia

  • April 1, 2022
  • , NHK
  • JMH Summary

NHK reported that Economy, Trade and Industry Minister Hagiuda told reporters this morning that Japan will not withdraw from the Sakhalin-1 and Sakhalin-2 offshore oil and natural gas projects in the Russian Far East because they are critically important for Japan’s energy security. Hagiuda explained that Japan depends on Middle East nations for 90% of its crude oil imports and that Sakhalin-1 is an important supply source outside the Middle East. He also said that LNG from Sakhalin-2 accounts for 9% of Japan’s LNG imports. The minister added that Japan is also not planning to withdraw from Arctic LNG 2, in which Mitsui & Co. and Japan Oil, Gas and Metals National Corporation (JOGMEC) are participating.

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