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19 Sep, 2006 08:38

Russia announced environmental permits for the Sakhalin-2 project

Russia announced environmental permits for the Sakhalin-2 project

Japan says relations between Russia and Japan could be harmed after it was announced environmental permits for the Sakhalin-2 oil and gas project will be cancelled. Japanese government spokesman Shinzo Abe expressed concern that major delays to the $20 bi

On Monday Russia's Resources Ministry announced it will revoke the permits, but insisted this did not mean the project would be cancelled. Sakhalin-2 is located in Russia's Far East. It is already producing crude oil and is set to become the world's largest liquefied natural gas project. Japan's two biggest trading companies Mitsui and Mitsubishi have a combined 45 percent stake. Royal Dutch Shell owns the remaining 55 percent of the project, with no Russian companies currently involved.

Russia Today's guest Viktor Pavlyatenko comments:

Abe is known as a hard politician. And his hardness will also be felt in his attitude towards Russia. But the word hard is describing relations between Russia and Japan should be differentiated shade here, because a hard statement doesn't mean a hard policy, because the situation in the region and the world is developing so sweepingly that any politician, including Abe, cannot ignore the fact that it needs good relations with other countries.  But still, the project has a bright future.