Japanese energy policy was shifted to natural gas use due to drastic situation domestic and international energy situation, such as the Fukushima Daiichi nuclear accident. Accordingly, this study analyzes the structure of natural gas development project and trading between Japan and Russia, as Russia is increasingly becoming an important major supplier of natural gas, which is reflected in the bilateral trade. This study will analyze the two LNG projects as a representative case of the multinational development project of natural gas from the perspective of energy security, economy, technology, and politics. The method of this analysis is “cognitive map” and “text analysis” to quantify the qualitative data collected from four major Japanese newspapers during the period of 1991-2017. One of the findings of this study is that, the Russian government has strengthened exporting LNG to East Asia as a state project since the first Putin administration especially after the US Shale revolution and the Ukrainian crisis, while the Japanese side is driven by major private corporations such as the construction of infrastructure which is little affected from international politics.