Talks began in Tokyo on Wednesday, August 29, between Japan and the Soviet Union to discuss that sort of help Japan should provide in the development of oil and gas fields in Siberia.
Talks began in Tokyo on Wednesday, August 29, between Japan and the Soviet Union to discuss that sort of help Japan should provide in the development of oil and gas fields in Siberia. They are expected to last for three days.
The Soviet delegation is led by the First Deputy Minister of Foreign Trade, Mr. Ivan F. Samichastonov; the other members are foreign trade officials. The Japanese delegation, made up of business men, is led by the President of the Federation of Economic Organisations, Mr. Kogoro Uemura; the President of the Chamber of Commerce. Mr. Shigeo Nagano; the Chairman of the Oil Commission of the Federation of Economic Organisations, Mr. Hiroki Imazato; and the Chairman of the Japan-Soviet Economic Cooperation Commission, Mr. Hiroshi Anzai.
The two areas of discussion are the Tyumen oil field in Siberia; and the Yakout natural gas field, also in Siberia. The meeting is to work out the ways in which Japanese money will be spent (the amount has already bene broadly agreed); and what the Soviet Union will provide in return. The Japanese contribution towards developing the oil field will be about 1400 million U.S. dollars ($60,000 sterling).
Japan has an urgent need to obtain guaranteed supplies of energy, particularly oil. At present, 99.8 per cent of oil requirements must be imported; 86 per cent from the Arab world. Less than 10 per cent of Japan's oil comes form a relatively secure source -- Indonesia.