Japan s industry minister says he has asked two domestic trading houses to consider joining a new operating company for the Sakhalin 2 oil and gas project in the Russian Far East to ensure stable energy supply.
While some Western countries have been backing away from energy resources from Russia as part of sanctions over its invasion of Ukraine, resource-poor Japan is taking a more cautious approach due to its heavy dependence on energy imports.
Major Japanese trading houses Mitsui & Co. and Mitsubishi Corp. say they will consult with the government to assess Shell PLC s planned exit from its flagship oil and natural gas business in eastern Russia.