Mitsubishi, Gazprom strengthening ties
Mitsubishi Corporation signed an agreement of strategic cooperation with Russia’s Gazprom aimed at providing a framework for strengthening the ties between the two companies.
Mitsubishi Corporation and Gazprom have been working in collaboration since 2007 and the operation and production of LNG from the Sakhalin II’s two liquefaction trains.
According to the company’s statement, 70 percent of the LNG produced from the project is supplied to Japan, constituting approximately 10 percent of the LNG imported to Japan.
Mitsubishi Corporation added it is engaged in the expansion of the Sakhalin II project with plans to launch a third train already being discussed with Gazprom and other shareholders.
With the latest agreement of strategic cooperation, the two companies look to collaborate in areas that not limited to energy.