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Russia offers Japanese buyers same conditions over Sakhalin-2 project NHK

NHK has learned that a newly established Russian company taking over the Sakhalin-2 oil and gas project is proposing the same conditions on price and supply amount to Japanese buyers as the previous one did.

Russia established the company on August 5 to take over the project in the country's Far East. About 9 percent of liquefied natural gas supply in Japan comes from the project. Japanese buyers include JERA and Tokyo Gas. JERA is a wholly owned subsidiary of TEPCO Fuel & Power, Inc. and Chubu Electric Power Co.

Informed sources say the new Russian company has asked the Japanese firms to sign a contract under the same conditions as before, including the purchase price and the procurement amount.

The Japanese companies are expected to consider signing a contract with the new firm.

Meanwhile, two Japanese trading houses, Mitsui & Co. and Mitsubishi Corporation, have stakes in the Sakhalin-2 project. Russia is urging them to say whether they will participate in the new company within one month of its establishment.

The Japanese government has asked the trading firms to positively look at keeping their stakes in the project, saying the project is important to ensure stable energy supplies in Japan.

Economy, Trade and Industry Minister Nishimura Yasutoshi told reporters on Wednesday that the government wants to protect Japan's interests through joint efforts by the public and private sectors.
Summary
Russian company taking over Sakhalin-2 oil and gas project proposes similar terms to Japanese buyers; companies expected to consider contract. New firm is seeking participation from Mitsui & Co., Mitsubishi Corporation within a month of establishment. Japanese government encourages firms to keep
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ID: 62fd6d79-7894-44cd-98e7-76b6c0a80b98

Category ID: nhk

URL: https://www3.nhk.or.jp/nhkworld/en/news/20220818_01/

Date: Aug. 18, 2022

Created: 2022/08/18 07:36

Updated: 2025/12/09 14:15

Last Read: 2022/08/18 07:36