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2014-08-06 18:30:00

RUSSIA SANCTIONS: NOTHING TO STOP

RUSSIA SANCTIONS: NOTHING TO STOP

Japan, dependent on imports for almost all its fuel, is pursuing natural gas projects and energy purchases in Russia despite new sanctions last week designed to punish Vladimir Putin and his associates.

Japan won't be keen on deeper sanctions that would curb its access to gas, oil and coal from Russia, said Will Pearson, a London-based director of Eurasia Group, an energy and natural resources consultant. "Japanese firms are very interested in accessing Russian natural resources, thanks to their proximity," he said.

Japan buys about 65 percent of the liquefied natural gas coming from Russia's Sakhalin-2, a 9.6 million metric ton-a-year project, according to Leigh Bolton, managing director of Holmwood Consulting Ltd., a Surrey, England-based energy consultant. Neither country will break the contracts based on sanctions, he said.

Japan will freeze assets of individuals or groups involved in increasing instability in Ukraine and in the annexation of Crimea, Chief Cabinet Secretary Yoshihide Suga said July 28. Russia's foreign ministry said July 29 that Japan's new sanctions are "unfriendly, shortsighted" and will hurt bilateral relations.

Japan continues to view Russia as an important, resource-rich country, a Tokyo-based official at the Ministry of Economy, Trade and Industry said, asking not to be identified due to internal policy.

Russia's Sakhalin facility near Japan's northern island of Hokkaido provides almost 9.5 percent of Japan's gas, according to Royal Dutch Shell Plc (RDSA), which owns a quarter of the project.

Russian President Putin's continued support for separatists in eastern Ukraine has prompted the U.S. and European Union to impose restrictions on the operations of some banks and energy companies in an effort to isolate the Russian economy.

Putin spokesman Dmitry Peskov declined to comment on the Russian president's scheduled visit to Japan and the countries' energy ties. Russia cited Japan's sanctions for canceling talks between the nations' deputy foreign ministers, Putin's foreign ministry said on its website.

bloomberg.com

Tags: SANCTIONS, RUSSIA, JAPAN, SHELL, EURASIA, EUROPE, U.S.

Chronicle:

RUSSIA SANCTIONS: NOTHING TO STOP
September, 22, 08:50:00

RUSSIA - KURDISTAN INVESTMENT

Instead, with the planned referendum just days away, Russian state oil giant Rosneft announced its latest investment last week, to help Iraqi Kurdistan develop its natural gas industry, for domestic supplies and eventual export.

RUSSIA SANCTIONS: NOTHING TO STOP
September, 22, 08:45:00

IRAN'S GAS EXPORT: ABOVE 5 BCM

Iran exported over 5 billion cubic meters (bcm) of natural gas during the first five months of the current Iranian calendar year (March 21-August 22), Dispatching director of National Iranian Gas Company (NIGC) announced.

RUSSIA SANCTIONS: NOTHING TO STOP
September, 22, 08:40:00

IRAQI OIL TO U.S.

Gazprom Neft has shipped its second and largest cargo of Iraqi crude to the US since the Badra field, its flagship overseas oil project, came on stream in 2014, the Russian oil company said Tuesday.

RUSSIA SANCTIONS: NOTHING TO STOP
September, 22, 08:35:00

QATAR - TURKEY LNG

Qatargas has agreed to sell 1.5 million tpy of LNG to Turkey’s BOTAŞ Petroleum Pipeline Corporation (BOTAŞ) over a period of three years

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