Japan Prioritizes Energy Security Amid Sakhalin-1 Sanctions Dilemma

Japan's industry ministry has emphasized the significance of securing overseas energy sources for its energy stability, following U.S. sanctions on Russian Sakhalin-1 shareholder Rosneft. Despite sanctions, Japan aims to ensure a reliable energy supply. The foreign ministry refrained from speculating on specific impacts of these sanctions on the Sakhalin-1 Project.

Japan has reiterated the importance of securing overseas energy sources for its stability, particularly from the Sakhalin Project, amid recent U.S. sanctions targeting Russian shareholder Rosneft.

On Thursday, Japan's Ministry of Economy, Trade and Industry stated its commitment to maintaining a stable energy supply. 'We will take necessary measures to ensure Japan's stable energy supply is not compromised,' the statement read, while declining to comment on the specific impact of sanctions.

The Sakhalin-1 project has seen ownership shifts; ExxonMobil exited in 2022 post-Russia's invasion of Ukraine. The project's stakeholders include Rosneft, ONGC Videsh of India, and a consortium of Japanese companies.

(With inputs from agencies.)