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Russia and Japan to Cooperate on New Energy Projects

Russia-and-Japan-to-cooperate-in-new-energy-projectsRussia and Japan have started to work on a new energy project which will lead to an improvement of the economic relations between the two countries. Russian and Japanese officials have announced their intentions of cooperating on a Russian existing project which will transport 5.4 million tons of gas from Russia to Asian countries on an annual basis. The two states have also signed several agreements for the cooperation on the renewable energy sector. Our lawyers in Russia can offer more information on the legislation allowing foreign investors to open companies here.

What does the new gas project imply?

At the beginning of the year, Russia and Japan have agreed upon the cooperation on a new project which at the end will imply gas processing, storage and transportation facilities. The largest gas supplier in country and one of the largest in the world at the same time, Gazprom, is ready to offer energy to the third greatest energy market in the world which is Japan. Russia has announced its intention of cooperating with Japanese companies in order to complete the Sakhalin-2 project which will deliver 5.4 million tons of gas per year to countries in Asia.

In order to realize this project, Russia and Japan have signed no less than 68 documents. These agreements also imply several energy deals, oil agreements, but also direct investments from Japanese companies in renewable energy projects in Far Eastern Russia.

What are the renewable energy projects Russia and Japan will cooperate on?

Two large gas companies in Russia have agreed with Japanese ones to work on several renewable energy projects which will include modern gas storage facilities in Far East Russia, and also the construction of a new gas complex. Moreover, Japan is also interested in investing in Russian sea ports in order to explore liquefied natural gas resources. In order to achieve this, a Russian and a Japanese company will create a joint venture.

Russia is very committed to seeing these new projects through which is why it has enabled various programs which allow for the registration of joint investment companies without the usual redtape the creation of such ventures imply.

If you are interested in investment opportunities in this country, please contact our law firm in Russia.

 

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