Crises Averted? First Ship of Russian Crude to Arrive in Japan
According to a report by Kyodo News on May 2: A tanker carrying crude oil from Russia's Far Eastern Sakhalin-2 energy project will arrive in Japan. This marks the first time since the blockade of the Strait of Hormuz energy shipping route that Japan has purchased crude oil from Russia.
A Japanese Ministry of Economy, Trade and Industry official stated: "The imported Russian crude oil does not fall within the scope of Western economic sanctions imposed due to the Russia-Ukraine conflict."
The buyer of this crude oil is Japan Sun Oil, with expected delivery to Ehime Prefecture. Based on vessel tracking data, the shipment is scheduled to depart Sakhalin by late April.
Sakhalin-2 is a development project led by Russia’s major state-owned natural gas company, Gazprom, with participation from Mitsubishi Corporation and Mitsui & Co., Ltd.
Production of crude oil at Sakhalin-2 began in 2008, and exports of liquefied natural gas (LNG) commenced in 2009.
Imports of crude oil from Russia will be part of a diversified energy procurement strategy.
At the end of April, reports surfaced that a large oil tanker operated by Cosco passed through the Strait of Hormuz, but there remains no sign yet of restored Middle Eastern oil supply.
Original article: toutiao.com/article/1864050590307337/
Disclaimer: The views expressed in this article are those of the author(s) alone.