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Japan economy minister to discuss cooperation projects in Moscow

December 25, 2013, 10:11 UTC+3 TOKYO
He plans to hold negotiations with Russian Energy Minister Alexander Novak on December 26
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Japanese Minister of Economy, Trade and Industry Toshimitsu Motegi

Japanese Minister of Economy, Trade and Industry Toshimitsu Motegi

© EPA/KIMIMASA MAYAMA

TOKYO, December 25. /ITAR-TASS/. Stable oil and gas supplies and broader investment projects are high on the agenda of a visit to Moscow by Japanese Minister of Economy, Trade and Industry Toshimitsu Motegi, who departed for the Russian capital on Wednesday.

He plans to hold negotiations with Russian Energy Minister Alexander Novak on December 26. The ministers will discuss cooperation between the two countries in the oil and gas sphere, the Japanese ministry told Itar-Tass.

After the nuclear disaster at the nuclear power plant Fukushima-1 all nuclear power plants, which had previously delivered about one third of required electric power supplies on the Japanese market, were suspended in the country. This situation has made the country broaden widely the purchase of mineral fuel and would like to buy it at the prices as low as possible, because a sharp rise in the imports, particularly liquefied natural gas, had caused a considerable growth of the deficit in the foreign trade. Presently Russia accounts for about nine percent of Japanese liquefied natural gas market and the country’s share will grow, according to the estimates of specialists. In particular, Japanese companies show their interest in participation in the construction of new liquefied natural gas plants in Russia’s Far East near the city of Vladivostok and on Sakhalin Island.

Toshimitsu Motegi also plans to hold meetings with Minister of Economic Development Aleksey Ulyukayev and Minister for Development of the Far East Alexander Galushka in Moscow. It was reported that Japan intends to sign several agreements in the investment sphere, including a memorandum on cooperation in the construction of a new cancer centre in Moscow, Itar-Tass reported.

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