The government of Japan confirmed the plans of Mitsubishi and Mitsui to keep shares in Sakhalin-2

The Japanese government has confirmed that Mitsubishi Corporation and Mitsui & Co intend to retain their stakes in the Sakhalin-2 LNG project. The Cabinet of Ministers of the country is going to monitor the development of the situation. This was announced by the Secretary General of the Cabinet of Ministers Hirokazu Matsuno.

“We are aware that Mitsubishi Corporation and Mitsui & Co have formally agreed to participate. Companies will now be able to notify the Russian side of their decision to participate in the new operator, after which the Russian government must decide whether to approve it or not. We intend to closely monitor the situation and take all measures for a stable supply of LNG,” said Hirokazu Matsuno at a briefing (quoted from TASS).

Previously, the Nikkei newspaper, citing sources reportedthat Mitsubishi and Mitsui are going to retain their participation in the Sakhalin-2 project under a new Russian operator. The companies are going to send notifications to the Russian side about this by the end of August.

In June, Russian President Vladimir Putin translated Sakhalin-2 operator to Russian jurisdiction. Japanese authorities asked Mitsui and Mitsubishi remain involved in the project. According to media reports, none of the eight Japanese companies receiving LNG under Sakhalin-2 has expressed a desire to refuse supplies.

On the position of Tokyo on the Sakhalin-2 project – in the publication “Kommersant” “Japanese ministers lack energy”.

Olesya Pavlenko