Japan is still checking details of a Russian decree on the giant Sakhalin-1 oil and gas project and will continue talks with stakeholders in the previous operating consortium to decide whether to invest in a new Russian operator.
"We have repeatedly said Sakhalin-1 is a very important project for Japan," industry minister Yasutoshi Nishimura said during a news conference on Tuesday. The ministry owns 50% of Sakhalin Oil and Gas Development (SODECO), a consortium of Japanese partners including private firms, that holds a 30% stake in Sakhalin-1.
"We will continue to discuss with all parties concerned, including SODECO's private shareholders, and consider specific actions to be taken," Nishimura said.