Gazprom and JBIC discuss cooperation prospects

RELEASE

A working meeting between Alexey Miller, Chairman of the Management Committee of Gazprom, and Tadashi Maeda, CEO and Executive Managing Director of Japan Bank for International Cooperation (JBIC), took place today at the St. Petersburg International Economic Forum 2017.

The parties discussed the avenues for deeper cooperation, including JBIC's potential participation in securing financing for Gazprom's projects in line with the Memorandum of Understanding between the companies.

Background

Japan Bank for International Cooperation was set up in 1999 as a state-owned financial institution aimed at developing economic cooperation with foreign countries. The bank is focused on supporting international economic activities of Japanese companies.

Gazprom and JBIC have established a long-standing and fruitful cooperation. Specifically, JBIC participated in financing the Blue Stream gas pipeline construction project and the Sakhalin II project.

In December 2016, Gazprom and JBIC signed the Memorandum of Understanding outlining the basic principles of cooperation in securing financing for Gazprom's projects with the involvement of Japanese companies.