Russia Ready to Offer Japan Majority Stakes in Oil, Gas Projects

© REUTERS / Sergei KarpukhinA worker checks the valve of an oil pipe at the Lukoil company owned Imilorskoye oil field outside the West Siberian city of Kogalym, Russia, January 25, 2016
A worker checks the valve of an oil pipe at the Lukoil company owned Imilorskoye oil field outside the West Siberian city of Kogalym, Russia, January 25, 2016 - Sputnik International
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Moscow is willing to let Japanese investors take significant ownership in major oil and gas ventures, Russian Deputy Prime Minister Arkady Dvorkovich said.

TOKYO (Sputnik) — The proposal also applies to "Japanese investors with strategic development plans," Dvorkovich told Japan’s Nikkei Asian Review in an interview published Monday.

"[Russia has held] very constructive exchanges with Japanese companies… [which] creates a good environment for political dialogue," the Russian deputy prime minister added.

According to Dvorkovich, the two countries are still set to sign several agreements to boost bilateral economic cooperation before Russian President Vladimir Putin’s long-awaited visit to Japan could take place.

Putin was due to travel to Japan in the fall of 2014, but the crisis in Ukraine and Moscow’s strained relations with the West caused the trip to be postponed. A visit was later planned for 2015, but the two sides never announced a set date.

The relations between two countries deteriorated after Tokyo announced support for certain Western economic sanctions against Russia imposed in 2014 over an alleged Moscow's interference in the armed conflict in eastern Ukraine. The Kremlin has repeatedly denied the claims.

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