Gazprom, Mitsui ink LNG cooperation deal

Russian gas giant Gazprom said Thursday it signed an LNG cooperation agreement with Japanese trading firm Mitsui & Co.

The two companies are to cooperate in the production, transportation and marketing of small and medium-scale LNG in Japan, as well as LNG bunkering in the Sea of Japan, according to a Gazprom statement.

The framework agreement was signed by Gazprom head Alexey Miller, and Chairman of the Board of Directors of Mitsui, Masami Iijima.

Worth mentioning, the two companies are already partners in the Sakhalin-2 project, which operates the only LNG plant in Russia.

Gazprom leads the project with a 50% plus one share interest while Mitsui holds a 12.5% stake.

LNG World News Staff