Source Pravda.Ru

Japan to buy Russian gas

Japan will import Russian natural gas - something it has never done before. Tokyo Gas, Japan's leading gas corporation, intends next year to sign a final contract with Sakhalin Energy, a joint venture on which the Dutch-based Shell is prominent. The arrangement envisages Russian gas exports to Japan on project Sakhalin 2, a Tokyo Gas employee said to Novosti.

The final contract is expected to stipulate purchase prices.

A framework contract between Tokyo Gas and Sakhalin Energy was signed in Yuzhno-Sakhalinsk, May 12, for an annual 1.1 million tonnes within 24 years, starting 2007, with maritime shipments by special-purpose vessels. The gas will be pumped into pipelines in the Tokyo port.

Economic experts in Tokyo expect Russia to develop into Asia's biggest gas supplier. The forthcoming transaction will revive an investment project involving investments of a rough total US$10 billion to develop Sakhalin island shelf oil- and gasfields.

Shell will invest 55% of the total, and Japan's Mitsui and Mitsubishi a respective 25% and 20%, says the Japanese press.

Tokyo Electric Power and another three Japanese-based companies also intend to purchase Russian gas. Sakhalin Energy may resell the gas to South Korea and Taiwan.

Project Sakhalin 2 is expected to meet 10% of Asian gas demands or more as the deposits it involves are estimated at 1.1 billion barrels of petroleum and 360 million tonnes of gas in the liquid equivalent.

Japan hopes the endeavour will ease off its power industrial dependence on the Middle East.

Japan is the world's largest liquefied natural gas importer. It purchased an approximate 55 million tonnes for $12.5 billion last year, say economic statistics.

When the bill was submitted to Congress on August 2, the reason for imposing the new sanctions on Russia was based on Russia's alleged interference in the US presidential election in 2016, but then something clicked

US sanctions to kill Russian banks and sovereign debt?

The Central Bank of Turkey announced measures to protect the financial market of Turkey against the background of the collapse of the Turkish lira and conflict of interests with the United States of America

Turkey desperately tries to rescue its national currency as it falls to all-time lows
Comments
US sanctions to kill Russian banks and sovereign debt?
Russia to build major naval base on the coast of Caspian Sea
US sanctions to kill Russian banks and sovereign debt?
Turkey desperately tries to rescue its national currency as it falls to all-time lows
World War Three may break out because of USA's agony
World War Three may break out because of USA's agony
Ukraine dreams of what it can do to Crimea after winning war with Russia
Turkey and USA take their relationship to breaking point
Russia starts Star Wars first. USA concerned and puzzled
Russia to build major naval base on the coast of Caspian Sea
US sanctions to kill Russian banks and sovereign debt?
US sanctions to kill Russian banks and sovereign debt?
The end of the theory of a Nobel Prize in chemistry?
US sanctions to kill Russian banks and sovereign debt?
Russia starts Star Wars first. USA concerned and puzzled
Russia starts Star Wars first. USA concerned and puzzled
US sanctions to kill Russian banks and sovereign debt?
Turkey and USA take their relationship to breaking point
Iran shows new ICBM that can evade radars
USA and Turkey: The elephant kicks the barking pug aside
Venezuela: Once again, interference from the USA in Latin America