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Japan Seeks Shipping Exemption from EU on Sakhalin Interests

OIL

Japan's Ministry of Economy, Trade and Industry has requested the EU to "avert the impact" on Sakhalin oil liftings given the EU's ban on insuring Russian oil shipments to third countries according to Platts.

  • "METI is seeking an exception for equity crude liftings from the Sakhalin 1 and 2 projects." Senior Managing Director Shinya Okuda of METI said today.
  • Japan has repeatedly said it will remain committed to keep the country's interests in the Sakhalin 1 and 2 projects in Russia as the supply contributes to a stable and affordable energy supply in the long term.

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