Russian Energy Minister Assures LNG Supply to Japan From Sakhalin II
Tokyo, Feb. 27 (Jiji Press)–Visiting Russian Industry and Energy Minister Viktor Khristenko on Tuesday gave an assurance that shipments of liquefied natural gas to Japan from the Sakhalin II project in the Russian Far East will start as planned in summer 2008.
During his meeting here with Japan’s Minister of Economy, Trade and Industry Akira Amari, Khristenko said that Russia is ready to supply LNG to Japan as initially planned.
Two Japanese trading houses, Mitsui & Co. and Mitsubishi Corp. , and Royal Dutch Shell PLC agreed last December to relinquish to Gazprom more than half of their combined stake in the Sakhalin II project, off the island of Sakhalin to the north of Japan, raising the holding of the state-owned Russian gas giant to more than 50 pct.
The move had raised concerns here about whether Japanese electric and gas companies would be able to procure LNG from the project as initially agreed.
The Russian energy minister also sounded positive on proceeding with a project to construct an oil pipeline from East Siberia to the Sea of Japan coast that will facilitate oil shipments to Japan, according to sources with access to the meeting.
Russia plans to build a pipeline between East Siberia’s Tayshet and Skovorodino, near the Chinese border, during the first phase of the project to the end of 2008. From Skovorodino, the pipeline will be linked to a Chinese pipeline that will carry oil into China.
In the second phase of the project, which Russia hopes to complete in 2012, the pipeline will be extended from Skovorodino to Kozmino Bay, near Nakhodka, where oil will be shipped to Japan.
Aside from energy issues, Khristenko and Amari discussed an action plan to enhance trade and investment between the two countries and agreed to sign it on Wednesday.
The action plan is expected to set investment protection rules and stipulate cooperation on the protection of intellectual property rights and assistance for small firms.END
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