Leaders of Gazprom and Mitsui & Co., Ltd have met at the Eastern Economic Forum 2016 in Vladivostok to sign a Memorandum of Understanding involving future bunkering of Liquefied Natural Gas (LNG).
Alexey Miller, Chairman of the Gazprom Management Committee, and Masami Iijima, Representative Director and Chairman of the Board of Directors of Mitsui signed the MoU that reflects the parties’ intention to cooperate in feasibility and marketing studies with regard to the bunkering of marine vessels with LNG in Russia’s Far East and the Asia-Pacific region.
“Gazprom and Mitsui have successfully cooperated on the Sakhalin II project. Now we have an excellent opportunity to partner in a new business area – small-scale LNG. Joint efforts in the bunkering industry will help our companies diversify our businesses and strengthen our positions in the dynamic Asian market,” said Alexey Miller.
Russia’s only LNG plant is operating under the Sakhalin II project. Sakhalin Energy Investment Company Ltd. is the Sakhalin II project operator with the ownership distributed among Gazprom (50 per cent plus one share), Shell (27.5 per cent minus one share), Mitsui (12.5 per cent), and Mitsubishi (10 per cent).