Gazprom and Mitsui review progress of agreement on small- and mid-scale LNG
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Tatsuo Yasunaga, President and CEO of Mitsui & Co., Ltd., took place today at the St. Petersburg International Economic Forum 2018.
The meeting addressed the ongoing and future bilateral partnership between the companies, focusing on the progress of the Framework Agreement for cooperation on small- and mid-scale LNG. It was noted that, as part of those efforts, an advisory body had been established for the purposes of evaluating potential joint projects.
Alexey Miller and Tatsuo Yasunaga also reviewed the status of the Sakhalin II project.
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. (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).
In 2016 and 2017, Gazprom and Mitsui signed the Agreement of Strategic Cooperation and the Framework Agreement for cooperation on small- and mid-scale LNG, respectively.