Japan to propose energy cooperation with Russia

Japan may also invest nearly USD10 bln in Russian oil giant Rosneft
Japan to propose energy cooperation with Russia
02 September 14:30 2016 Print This Article

Japan will propose Russia a broad cooperation in the energy sector and could invest nearly USD10 bln in Russian state-owned oil giant Rosneft, reports Reuters with reference to the Nikkei newspaper.

The report anticipates the meeting between the Prime Minister Shinzo Abe and Russian President Vladimir Putin to be held on the sidelines of the Eastern Economic Forum opened on Friday in Vladivostok.

According to the newspaper, the two are expected to discuss closer cooperation in such areas as energy and technology. Japan also hopes to strengthen economic ties and create a breakthrough in a decades-long territorial dispute, the Japan’s National Daily The Mainichi reported yesterday.

The Nikkei said the Ministry of Economy, Trade, and Industry (METI) is considering investing 1 trillion yen (USD9.7 bln) to buy 10% of Rosneft through the government-backed Japan Oil, Gas and Metals National Corp (Jogmec). It also said that Japan will consider joint surveys for oil and gas projects in Eastern Siberia and the Russian Far East.

Yesterday, the Japan’s National Daily The Mainichi reported that Prime Minister Shinzo Abe had appointed trade minister Hirochige Seko to a new ministerial role for overseeing Japan’s anticipated economic cooperation with Russia. He is supposed to accompany Abe on the trip to Vladivostok, reports Reuters.

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