Mitsui & Co. of Japan and Gazprom have signed a memorandum of understanding for cooperation in LNG bunkering.
Under the agreement, the companies confirmed the intention to cooperate in feasibility and marketing studies with regard to the bunkering of marine vessels with liquefied natural gas in Russia’s Far East and the Asia-Pacific region.
The MoU was signed by Alexey Miller chairman of Gazprom’s management committee and Masami Iijima, representative director and chairman of Mitsui’s board of directors, at an energy conference in Vladivostok, on Friday.
Miller noted that cooperation in the small-scale LNG supply segment could enable both companies to diversify their business activities, and strengthen their position in the developing Asian market.
Gazprom further said in its statement that the two representatives discussed the ongoing and future cooperation, focusing, among other things, on liquefied natural gas production within the Sakhalin II project and on the increase in its output with the construction of the third production train of the LNG plant.
Gazprom holds a 50 percent plus one share in the Sakhalin-2 LNG project, with Mitsui holding a 12.5 percent stake. Shell owns a 27.5 percent stake with the remaining 10 percent owned by Diamond Gas, a unit of Mitsubishi Corporation.
LNG World News Staff