"Nihon Keizai Shimbun" reported on the 3rd that in response to Russian President Putin 's recent presidential decree to nationalize the Far East "Sakhalin-2" oil and gas development project, Japanese Prime Minister Fumio Kishida said again on the NHK program that day Said: "I don't think this will suddenly lead to the cessation of natural gas supply (from Russia to Japan)." Since Japanese companies are involved in the "Sakhalin-2" project, Kishida also said that we must pay close attention to the impact of Japanese companies on What impact will it have? We will closely communicate with relevant companies and consider countermeasures.
On June 30, local time, Putin signed a presidential decree stating that in the face of sanctions imposed by Europe, the United States and Japan on Russia, Russia will establish a new company to take over the Russian-Japanese energy cooperative development project "Sakhalin-2". In this project, Japan's Mitsui & Co. and Mitsubishi Group hold 12.5% and 10% shares respectively. According to the presidential decree, the Russian government will notify other shareholders within one month whether they can obtain shares in the new company.
Although the Japanese Prime Minister claimed that Russia’s move would not lead to a cutoff in natural gas supply, the Japanese political and business circles were very nervous about Russia’s move. Japan's Kyodo News quoted relevant government sources as warning: "Russia's claims must be confirmed and responded to with unprecedented tension." Mitsui & Co. and the head of Mitsubishi Group said they would coordinate response methods with the Japanese government.
Japan is short of oil and natural gas resources. According to statistics from Japan's Ministry of Economy, Trade and Industry , 4% of Japan's imported oil and 8.8% of imported natural gas will come from Russia in 2021, most of which will come from the "Sakhalin-2" project. Natural gas currently accounts for about 30%-40% of Japan's domestic power generation energy. Russia's move has made Japan's power supply even more tense. Recently, Japan suffered its hottest June since temperature records began in 1875. Due to power shortages, the Japanese government has launched a nationwide power saving season. In order to save electricity, some government agencies in Tokyo even turned off the lighting in offices during the day, forcing staff to work in the dark.
Since the conflict between Russia and Ukraine broke out, Japan was not only the first Asian country to condemn and impose sanctions on Russia, but also pressured and induced other countries to impose sanctions on Russia. Japanese media generally believe that Putin's signing of the new presidential decree is retaliation against Japan. " Yomiuri Shimbun " stated that because Japan participated in sanctions against Russia, it was listed as a "non-friendly country" by Russia. The presidential order signed by Putin this time is obviously retaliation against Japan, and Japanese companies may be excluded in the future. Outside the "Sakhalin-2" project. "Nihon Keizai Shimbun" stated that Japan faces a dilemma: if it tries to preserve its interests in the "Sakhalin-2" project, it will cause differences in the "United Front" of the Group of Seven (G7) against Russia; but if If Japan withdraws from the project, natural gas supply will be interrupted, which will seriously impact Japan's energy security.
The Russian "Political Expert" website said on the 3rd that Russia's move is a warning to the entire West. The report quoted Russian political analyst Satanovsky as saying: "Russia's nationalization of the 'Sakhalin-2' project is a major event. The West and its lackeys are building an anti-Russian Iron Curtain. The United States and the United Kingdom have already gained access to oil and gas. Japan will be the next to learn a harsh lesson,” he said: “This is just the beginning... As the West imposes sanctions on Russia and attempts to exclude Russia from the international market, Moscow will further retaliate, which is likely to cause oil prices to drop from the current per barrel level. US$119 rose to US$380. This will bring about an interesting situation. When the amount of Russian energy exports decreases, its income will increase significantly. This will cause a heavy blow to the economies of Western countries." [Global Times Special Correspondent Yang Chen and Liu Yupeng]
