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Abstract The Political Economic Analysis of the Sakhalin Energy Production Projects Chaimun Lee, Chulwoo Lee The fall of 2005 saw the beginning of pumping as much as 250,000 barrels of oil a day, three decades after a huge amount of oil and gas reserves were discovered offshore of Sakhalin. This paper examines the Sakhalin oil and gas projects from the political economic perspective. The first section identifies those political economic factors which helped encourage the largest amount of foreign investments in the Sakhalin projects in Russian history, a trend contrary to lukewarm foreign interests in the energy sectors elsewhere in Russia. The second section ex-plains that, notwithstanding the active participation of foreign capitals in the Sakhalin energy projects, the complexities of the investment environment and contradictions regarding legal and administrative procedures still persist. The final section of the paper suggests the implications that the Sakhalin energy projects have for energy policies of the countries in Northeastern Asia in the near future.


Abstract The Political Economic Analysis of the Sakhalin Energy Production Projects Chaimun Lee, Chulwoo Lee The fall of 2005 saw the beginning of pumping as much as 250,000 barrels of oil a day, three decades after a huge amount of oil and gas reserves were discovered offshore of Sakhalin. This paper examines the Sakhalin oil and gas projects from the political economic perspective. The first section identifies those political economic factors which helped encourage the largest amount of foreign investments in the Sakhalin projects in Russian history, a trend contrary to lukewarm foreign interests in the energy sectors elsewhere in Russia. The second section ex-plains that, notwithstanding the active participation of foreign capitals in the Sakhalin energy projects, the complexities of the investment environment and contradictions regarding legal and administrative procedures still persist. The final section of the paper suggests the implications that the Sakhalin energy projects have for energy policies of the countries in Northeastern Asia in the near future.