On the 5th, President Putin of Russia signed a presidential decree related to economic activities with countries that Russia positions as unfriendly countries.
According to the Russian state-run TASS news agency, the presidential decree this December prohibits some individuals and groups from countries that Russia considers unfriendly, including the United States and Japan, from selling stocks of Russian companies. I'm going to ban it until the 31th.
The target of the ban is said to include the oil and natural gas development project "Sakhalin 1", which is being advanced off the coast of Sakhalin in the Far East of Russia, with the participation of major trading companies such as Itochu Corporation and Marubeni Corporation of Japan.
In June this year, President Putin announced that Sakhalin 2, in which other Japanese trading companies have invested, will also change the operating body to a newly established Russian company and transfer the assets to the new company free of charge. I am signing an executive order to
Ministry of Economy, Trade and Industry information gathering
The Ministry of Economy, Trade and Industry will continue to collect information, analyze the impact on the business of "Sakhalin 1", in which Japanese companies hold interests, and consider future responses.
What is "Sakhalin 1"?
"Sakhalin 1" is an oil and natural gas development project off the northeast coast of Sakhalin in the Far East of Russia, along with "Sakhalin 2".
The total project cost is 12 billion dollars, exceeding 1.6 trillion yen in Japanese yen, and the United States, Russia, India, and Japan are participating.
At the center is the American oil giant "Exxon Mobil", with a 30% interest.
In addition, the Russian state oil company has 20% and the Indian state oil company has 20%.
Major trading companies Itochu Corporation, Marubeni, and Petroleum Exploration Co., Ltd. participated in SODECO Sakhalin Oil and Gas Development, in which the Japanese government has a 50% stake. I own an interest.
Among them, the American oil giant "Exxon Mobil" announced its withdrawal from the project in March this year following Russia's invasion of Ukraine.
Since 2005, crude oil has been produced in three oil fields, transported by pipeline to a shipping terminal on the coast of the Far East Khabarovsk region, about 200 kilometers away, and exported by tanker from there to Japan and other countries.
In the future, we are considering developing natural gas and exporting LNG (liquefied natural gas) to Japan and other countries.