Tokyo says Sakhalin-1 is too valuable to abandon Japan will not be leaving the Sakhalin-1 oil and gas project in Russia’s Far East because of its significance to the country’s energy supply, the Nikkei newspaper reported on Monday citing Economy, Trade and Industry Minister Koichi Hagiuda. “For Japan, which depends on the Middle East for about 90% of its crude oil imports, [Sakhalin-1] is a valuable source of purchases outside the Middle East,” he said, commenting on a decree Russian President Vladimir Putin signed in early August regarding foreign shareholders in strategically important Russian companies. Accordi
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