The Russian government wants financial and technological assistance from Japan to build a pipeline and LNG export terminal for the Sakhalin I oil and natural gas development project.
If I remember correctly, Japanese companies Mistui and Mitsubishi helped build Sakhalin I hoping to cash in only to have Moscow change the laws in Gazprom’s favor leaving M&M out in the cold – literally.
Now, Moscow realizes they have the technology to export the LNG and they want Japan’s help again to cover the $5 billion costs invoved in the project. For that Prime Minister Vladimir Putin is scheduled to visit Japan next month to beg for money.
Gas reserves at Sakhalin I are estimated at 485 billion cu. meters and Sakhalin II has 480 billion cu. meters.
Some 60% of Sakhalin II’s output is to be shipped to Japan to supply about 8% of the Japan’s needs … until Moscow changes the law again.
Fighting over the Earth’s natural resources! exploiting one another over the Earth’s natural resources!! Look no further than Russia!!!
Image courtesy of StephenMitchell