Koichi Hagiuda, Minister of Economy, Trade, and Industry said at a post-Cabinet meeting today on the 22nd that he is closely exchanging information with trading companies over the Russian Far East oil and natural gas development project "Sakhalin 2". He said that details such as the conditions for investing in the new company have not been clarified yet. He also said he could not confirm the information that the new company was established.
Russian President Vladimir Putin signed a presidential directive on June 30 to establish a new entity for Sakhalin 2. While state-owned gas can maintain its interests, other investors need to apply to the Russian government for approval of their interests within a month.
Minister of Economy, Trade, and Industry Hagita said, "We are exchanging information closely with trading companies, but there is no information that a new company has been established on the Russian side at this time.". He continued to state that he would work with the seven major countries (G7).
Reuters reported on the 19th that the Japanese government has decided to support trading companies that actually invest in Sakhalin 2 to maintain its interests. While waiting for the presentation of conditions from Russia, we will start full-scale coordination with Mitsui & Co. and Mitsubishi Corporation.
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