REUTERS
March 31, 2022 at 17:30 JST
A tanker carrying LNG berths at a port in Ishikari, Hokkaido, in 2021. (The Asahi Shimbun)
Japan will not abandon its stake in the Sakhalin-2 liquefied natural gas (LNG) project in Russia as it is essential to energy security, Prime Minister Fumio Kishida said on Thursday, his clearest comments yet on Tokyo’s plans for the development.
Kishida also said in parliament that he expects the Bank of Japan to maintain efforts to achieve its 2 percent inflation target.
The Ukraine crisis has put Japan’s involvement in the Sakhalin-2 project and similar ones in Russia in sharp focus, particularly after Western oil majors have said they would pull out in protest against Russia’s actions.
While resource poor Japan has been ramping up sanctions against Russia, Tokyo has repeatedly said that Russian LNG is essential to energy security.
“It is not our policy to withdraw” from Sakhalin-2, Kishida said in a response to a question in parliament.
Separately, he said the government “will take appropriate steps on currency policies in close communication with currency authorities in the United States and others, as currency stability is important and sharp exchange-rate moves are undesirable,” when asked about the yen’s recent weakening and its impact on the economy.
Japan adds Russia sanctions, U.S. envoy offers home to Ukrainians
March 18, 2022
Kishida pledges more aid after Ukraine’s appeal for help
March 24, 2022
Japan Inc. feels the heat over Russia ties as rivals shun Moscow
March 7, 2022
Japanese firms mull exodus from Russia as sanctions bite
March 2, 2022
Japan to release 7.5 million barrels of oil reserves in IEA-led action
March 5, 2022
Stories about memories of cherry blossoms solicited from readers
Cooking experts, chefs and others involved in the field of food introduce their special recipes intertwined with their paths in life.
A series based on diplomatic documents declassified by Japan’s Foreign Ministry
A series on the death of a Japanese woman that sparked a debate about criminal justice policy in the United States
A series about Japanese-Americans and their memories of World War II
Here is a collection of first-hand accounts by “hibakusha” atomic bomb survivors.
