Japan: (Sakhalin 2) project guarantees energy security and we will not withdraw from it

Tokyo-Sana

Japanese Prime Minister Fumio Kishida announced today that his country will not withdraw from the "Sakhalin 2" liquefied natural gas and oil project because it is essential to Japan's energy security.

TASS news agency quoted Kishida as saying before the Japanese parliament that the "Sakhalin 2" project is very important for Japan's energy security, as it guarantees stable and long-term supplies of liquefied natural gas at an acceptable price.

Kishida explained that the policy of sanctions followed by the Group of Seven against Russia against the backdrop of the crisis in Ukraine takes into account the interests of each member state of this group in a way that guarantees the security and supply of its own energy.

The "Sakhalin 2" project pumps gas from Russia to Japan and South Korea, and the Japanese Mitsui and Mitsubishi companies announced earlier that they are continuing their participation in the project.

The Russian company, Gazprom, owns a controlling stake in the project by 50 percent plus one share, while the Mitsui and Mitsubishi companies own 12.5 and 10 percent, respectively, and the majority of the liquefied natural gas produced under the project flows to Japan.

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