Japanese stakeholders in the Sakhalin 1 oil and gas project in eastern Russia will retain their stake in the undertaking by joining a new Russian operator recently established under a decree, the industry minister said Friday, as the project remains a vital source of energy for resource-poor Japan.Japan's government and companies, including major trading houses Itochu Corp. and Marubeni Corp., have invested in the project through Tokyo-based Sakhalin Oil and Gas Development Co. If the Russian side approves the company plan decided at Friday's shareholders meeting, Japan will be able to keep…READ FULL ARTICLE
