Earlier reports in EnergyReview.net indicated the Russian government had warned Japan the price of investing in the Pacific coast pipeline had gone up from the original US$10 billion estimate.
In a statement Japanese Foreign Ministry spokesman Hatsuhisa Takashima said, “Foreign Minister Yoriko Kawaguchi made it clear at meetings with the Russian leadership that Japan was very interested in investing not only in pipeline construction, but also in developing oilfields in eastern Siberia.”
“The Japanese government is ready to take part in funding the development. [We] hope that the Russian government, which presently studies the pipeline project, will approve it, which will give an access to private Japanese companies to Siberian oil.”
“It is a very interesting project for Japan, which receives the bulk of fuels from the Middle East. Ninety percent of oil consumed by Japan [comes] from the Middle East,” he added.
