Japan plans to hold onto its investments in major Russian energy projects for now, according to people with knowledge of the matter, despite ongoing aggression in Ukraine and a high-profile exit by Big Oil.
Unless the situation with Russia drastically changes, Japanese companies and consortia have decided keep their stakes in Sakhalin 1, Sakhalin 2 and Arctic LNG 2 projects, according to people at the firms and government officials. Russian oil and liquefied natural gas export projects are geographically closest to Japan and are strategically important for the resource-poor Asian nation, said the people, who requested anonymity to discuss private details.
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