Japan will start receiving its first shipments from the $13 billion Sakhalin-1 oil and natural gas project this year, helping the world's second-largest economy ease dependence on imports from the Middle East.Japan, which is vulnerable to supply cuts because it relies on imports for almost all of its oil, is seeking ways to secure natural resources over the next 25 years as China and India step up acquisition of oil and gas assets abroad.
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Japan will start receiving its first shipments from the $13 billion Sakhalin-1 oil and natural gas project this year, helping the world's second-largest economy ease dependence on imports from the Middle East.
