Russia restructures “Sakhalin-2” oil and gas project operator, Japan worries about rising natural gas prices
Reference News Network reported on July 1. According to a report by the TASS news agency, Kyodo News reported on the 1st that due to Russia’s decision to reorganize the operator of the “Sakhalin-2” oil and gas development project, Japanese companies participating in the project may lose their participation in the project. rights, which in turn led to difficulties in the supply of natural gas in Japan and higher prices.
According to the report, due to the failure of some foreign legal persons and natural persons to fulfill their obligations in the implementation of the project product distribution agreement, Russian President Vladimir Putin ordered on June 30 that the operator of the “Sakhalin-2” project be changed to a Russian legal person, and all the assets of the project will be replaced by new ones. Operator disposal. Foreign companies participating in the project must notify the Russian government within a month whether they agree to their shareholding in the new operator.
According to reports, the “Sakhalin-2” project is jointly funded and developed by Gazprom, Shell, Japan’s Mitsui & Co. and Mitsubishi Group. The origin of the project is located on the continental shelf of Sakhalin Island in the Russian Far East, and most of the natural gas produced is supplied to Japan.