Russia , Japan and India
In an Anti-West move Japan has declared that it will continue energy cooperation with Russia and will maintain stake in Russia's Sakhalin-1 oil project. But did you know that India is protecting Japan in this project from Russia and Japan is shielding India from West, How? let’s understand the consortium of Sakhalin 1 before March 2022. 30% Exxon Mobil US 30% Japanese companies 20% ONGC India 20% Russian companies Exxon, main operator of this project withdrew after Ukraine conflict and Putin transferred operation to Russia. So now a new Russian legal entity will take over the rights and responsibilities of the current investor consortium and the operator. Foreign stakeholders will have to declare if they’ll maintain their stakes in new company, who opts out will be eligible for compensation. India’s ONGC Videsh has 20% stake and it is considering taking on additional stakes after Exxon’s exit. Sakhalin 1 project has been a money spinner for ON...