Seiji Kihara, Deputy Secretary General of the Government of Japan, said at a press conference that his country is studying the impact of Russian President Vladimir Putin’s decree on the Sakhalin-2 project.
He added: “We are aware of the decree of the President of Russia. Despite the controversy on the part of public sites, it is unacceptable to allow violation of the rights of our country in the field of subsoil use. We are currently studying what will happen to the share of Japanese companies in the Sakhalin-2 project, as well as the impact of the LNG import decision on Japan, so I cannot yet answer our next steps. the decree was signed yesterday, we are studying the goals and background of the Russian side, I cannot say what steps we will take and what steps each company will take.”
He noted that Japan is currently studying the “goals and prerequisites” on the basis of which such a decision was made.
Earlier, President Putin issued a decree on the introduction of exceptional measures in the energy sector and the nationalization of the investment company Sakhalin Energy into the ownership of the Russian Federation in response to the sanctions of some countries against Russia.
Among these measures is nationalization. Sakhalin Energy Ltd. To become the property of the Russian Federation, and the state establishes a limited liability company, all the rights and obligations of a foreign company are transferred to it.
In Sakhalin Energy Limited, Gazprom owns 50% plus one share, Shell – 27.5% minus one share, Mitsui and Mitsubishi – 12.5% and 10% respectively. According to the decree, Gazprom retains its stake, and foreigners must announce within a month whether they agree to accept the same stake in the new operator.
After that, the Russian government will make a decision on the transfer of these shares within three days. The immovable shares will be sold, and the foreigners will receive the proceeds to a special account, minus the damage caused by them.
Source: RIA Novosti