Japan does not intend to withdraw from a major gas project involving Russia, although it has imposed severe sanctions on Moscow over its invasion of Ukraine, Japanese Prime Minister Fumio Kishida said today.
Japan, which is heavily dependent on energy imports to meet its needs, is trying, like other countries, to find a balance between dependence on imported fossil fuels and imposing sanctions on Russia.
Speaking in parliament, Kishida said the Sakhalin-2 pipeline in Russia’s Far East, near Japan, would supply the country with liquefied natural gas “in the long run, at low cost and stability.”
“This is an extremely important task for our energy security,” he said. “We do not intend to withdraw,” he added.
Following Russia’s invasion of Ukraine, the Shell oil company withdrew from the 27.5% stake in the pipeline, which is 50% controlled by Russia’s Gazprom.
The Japanese companies Mitsui and Mitsubishi participate by 12.5% ​​and 10% respectively in the project.
Kishida also stressed that Japan is looking for alternative energy sources.
“Following the policy of the other G7 countries, we will continue to make efforts to reduce our energy dependence on Russia,” he said.
Japan covers more than 8% of its liquefied natural gas needs from Russia and about 40% from Australia.
Source: Capital
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