Russia

Tokyo 'to Protest Any Discrimination of Japanese Holdings' in Russia's Sakhalin-2

TOKYO (Sputnik) - Japan will protest any discrimination against the Mitsui and Mitsubishi holding companies to protect their investment in Russia's Sakhalin-2 oil and gas project, a senior official told the Yomiuri Shimbun daily.
Sputnik
"Contracts with Japanese enterprises must be honored," the unnamed high-ranking official in the Japanese Foreign Ministry was quoted as saying in an article published on Saturday.
Russian President Vladimir Putin signed a decree on Thursday that allows Russia to create a new project operator that will take charge of Sakhalin-2 from Sakhalin Energy Investment Co. Russia's Gazprom will keep a majority stake of 50% plus one share. Shell has already promised to sell its 27.5% stake, while Mitsui and Mitsubishi reportedly plan to hold on to their 12.5% and 10% stakes respectively.
Deputy Chief Cabinet Secretary Seiji Kihara said on Friday that the government was studying the contents of the decree. He told a briefing that interests of Japanese companies in the project in Russia's far east should be respected. Sakhalin-2 accounts for 9% of Japan's LNG imports.
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