Japan’s Ministry of Economy, Trade and Industry (METI) has reaffirmed the strategic importance of overseas energy projects, including Russia’s Sakhalin-I, in ensuring long-term energy security. The ministry emphasized diversification beyond the Middle East and deeper collaboration with global energy firms such as ExxonMobil, Rosneft, and ONGC Videsh.
In a recent policy statement, Japan’s METI underscored that energy projects abroad are a valuable and necessary component of the country’s long-term energy security framework. The ministry specifically cited Russia’s Sakhalin-I oil and gas project as a critical asset, despite ongoing geopolitical tensions and global supply chain shifts.
Japan continues to maintain its stake in Sakhalin-I, recognizing its role in stabilizing energy imports. METI also acknowledged the importance of partnerships with ExxonMobil (XOM.N), Rosneft (ROSN.MM), and ONGC Videsh (ONVI.NS), which are actively involved in upstream exploration across Asia, Africa, and Latin America.
The ministry’s position reflects Tokyo’s broader strategy to reduce overdependence on Middle Eastern energy sources and to secure diversified, long-term supply channels through global investments.
Key Highlights
- METI identifies overseas energy projects as vital to Japan’s energy security
- Sakhalin-I remains a strategic priority despite geopolitical complexities
- Collaborations with ExxonMobil, Rosneft, and ONGC Videsh emphasized
- Focus on upstream investments in non-Middle East regions
- Supports diversification and long-term supply stability
Sources: Reuters, METI Official Statement, Nikkei Asia, Russia’s Pivot to Asia.