Japanese Inpex sells Itochu its stake in Russian INK-Zapad – Kommersant
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Inpex Corp, Japan’s largest oil and gas producer, is selling its minority stake in the Russian INK-Zapad oil project to Japanese trading company Itochu Corp, reports Reuters with reference to sources. They did not disclose the terms of the deal or specify what was driving Inpex’s decision. One of them clarified that the deal has not yet been completed.
INK-WEST is a joint venture between the Russian private Irkutsk Oil Company and the Japan National Oil, Gas and Metals Corporation (JOGMEC). Holds licenses for geological study, exploration and production of hydrocarbons in the Bolshetirsky and West Yaraktinsky areas of the Irkutsk region.
Despite the sanctions, Japanese companies remain involved in the Sakhalin-1 and Sakhalin-2 projects, which were transferred to Russian jurisdiction in 2022. Prime Minister of Japan Fumio Kishida said, which considers these projects important for the country’s energy security. Itochu head Masahiro Okafuji believesthat his country could not survive without oil supplies from Russia.
About relations between the Russian Federation and Japan – in the material “Kommersant” “Chronicle of the diving Kishida”.
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