Gazprom and Japanese lender JBIC boost ties

Russian gas giant Gazprom and Japan Bank for International Cooperation (JBIC) signed a deal aimed at advancing cooperation between the duo.

The memorandum of understanding was signed on Wednesday in Vladivostok by Gazprom’s head Alexey Miller and his counterpart Tadashi Maeda.

The deal clarifies certain provisions in the memorandum of understanding Gazprom signed with the Japan Bank for International Cooperation last year, the Russian company said in a statement.

The deal in December 2016 included the basic principles of cooperation in securing financing for Gazprom’s projects with the involvement of Japanese companies.

JBIC previously participated in financing the Blue Stream gas pipeline construction project and the Sakhalin II project, that includes Russia’s first LNG export plant.

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