Russia’s gas producer giant Gazprom and Japanese multi-sector trading firm Mitsui & Co have signed a Framework Agreement for cooperation on small- and mid-scale Liquefied Natural Gas.
The document reflects the commitment of the parties to collaborate in producing, transporting and marketing small- and mid-scale LNG in Japan, as well as in LNG bunkering in the Sea of Japan.
Signing took place at the Eastern Economic Forum 2017 in Vladivostok, by Alexey Miller, Chairman of the Gazprom Management Committee, and Masami Iijima, Chairman of the Board of Directors of Mitsui. The working meeting addressed the ongoing and future cooperation between the companies.
In September 2016, Gazprom and Mitsui inked the Memorandum of Understanding on LNG bunkering.
In December 2016, Gazprom and Mitsui signed the Agreement of Strategic Cooperation. The document envisages collaboration in various areas, including Sakhalin II project expansion and LNG bunkering of marine vessels.
Gazprom and Mitsui are partners in the Sakhalin II project, which includes Russia’s only active LNG plant. The Sakhalin II operator is Sakhalin Energy Investment Company Ltd. (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).
Related article: Gazprom and Mitsui to Cooperate on LNG Bunkering