Press

Gazprom and Mitsui Sign Memorandum of Understanding on Baltic LNG Project


A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Masami Iijima, Chairman of the Board of Directors of Mitsui & Co., Ltd., took place today at the 4th Eastern Economic Forum in Vladivostok.

Working meeting between Alexey Miller (center) and Masami Iijima, Chairman of Board of Directors of Mitsui & Co., Ltd., at 4th Eastern Economic Forum in Vladivostok

Alexey Miller (center)

Working meeting between Alexey Miller (center) and Masami Iijima, Chairman of Board of Directors of Mitsui & Co., Ltd., at 4th Eastern Economic Forum in Vladivostok

Masami Iijima (center)

The parties discussed the ongoing cooperation on the Sakhalin II project and the prospects for collaboration between the companies. In particular, the meeting addressed the construction of the third train of the Sakhalin II LNG plant. Alexey Miller and Masami Iijima also considered the avenues for cooperation in the area of small- and mid-scale LNG in the Far East.

Gazprom and Mitsui discuss ongoing cooperation on Sakhalin II project and prospects for collaboration between companies

Sakhalin II LNG plant

As part of the meeting, Gazprom and Mitsui signed a Memorandum of Understanding on the Baltic LNG project.

Gazprom and Mitsui discuss ongoing cooperation on Sakhalin II project and prospects for collaboration between companies

Baltic LNG plant's location

Background

Japan's Mitsui & Co., Ltd. (Mitsui) is focused on the development, purchase and sale, distribution and processing of all types of energy products in Japan and overseas, as well as on financial activities.

Gazprom and Mitsui are partners in the Sakhalin II project, which includes Russia's first LNG plant. The Sakhalin II operator is Sakhalin Energy Investment Company Ltd.

In September 2016, Gazprom and Mitsui signed 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.

In September 2017, Gazprom and Mitsui inked the Framework Agreement for cooperation on small- and mid-scale LNG.



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