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2022-03-28 11:40:00

JAPAN'S, RUSSIAN OIL & GAS PLAN

JAPAN'S, RUSSIAN OIL & GAS PLAN

REUTERS- March 28  - The head of oil and gas developer Japan Petroleum Exploration Co (Japex) (1662.T) said its new mid- and long-term business plan, unveiled on Monday, was based on an assumption that it would keep its stake in the Sakhalin-1 oil and gas project in Russia.

But state-backed Japex is unlikely to make new investments in Russia's energy projects given the current Ukraine crisis, Masahiro Fujita, president and chief executive officer, told a news conference on Monday.

Japan's Sakhalin Oil and Gas Development (SODECO) owns a 30% stake in the Sakhalin-1 project from which Exxon has said it would exit. Japex owns 15.285% in SODECO.

 

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Earlier:

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JAPAN'S, RUSSIAN OIL GAS PLAN
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Tags: JAPAN, RUSSIA, OIL, GAS