Gazprom replace Japanese partners with Chinese ones

The Japanese state-owned company Japan Oil, Gas and Metals (JOGMEC) hasn’t prolonged an agreement with Gazpromneft on the development of several fields in Eastern Siberia. The reason is that because of Western sanctions, Japan tacitly banned its investors from directly investing in Russian projects. But Gazpromneft won’t remain without a partner. The Chinese CEFC China Energy agrees to assist the Russian oil company in East Siberia.

The Japanese party began to think how to give up working together with Gazpromneft on the Ignyalinskoye field of the Chona project in Eastern Siberia in April of this year. Although Tokyo didn’t explicitly prohibit investing in Russia, but after the introduction of Western sanctions a certain background was formed in the country: investments in our country are too risky, so it’s better not to hurry to part with finances.