A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Masami Iijima, Representative Director and Chairman of the Board of Directors of Mitsui & Co., Ltd., took place at the Gazprom headquarters.

The parties addressed partnership prospects in the liquefied natural gas (LNG) sector, focusing on, among other things, joint efforts in expanding the Sakhalin II project through constructing the third train of the LNG plant.

Particular attention was paid to the implementation of the Memorandum of Understanding on LNG bunkering studies. Pursuant to the document, the companies will conduct feasibility and marketing studies with regard to the bunkering of marine vessels with LNG in Russia’s Far East and the Asia-Pacific region.

About the the Sakhalin II project

Russia's only LNG plant is operating under the Sakhalin II project. 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). On June 18, 2015, Gazprom and Shell signed the Memorandum on implementing the construction project for the third production train of the LNG plant. At present, the development of the FEED documents for the third train is nearing completion. In 2015, the plant produced 10.8 million tons of LNG, exceeding the design capacity by 1.2 million tons.
On September 2, 2016, Gazprom and Mitsui signed the Memorandum of Understanding on LNG bunkering.

About Mitsui

Mitsui & Co.'s five principal functions are marketing, financing, logistics, risk management, and IT and process development capabilities. We combine these functions to create and optimize value chains in a wide range of business fields. Maximizing our value-added content, we strive to meet the diverse needs of our customers around the world.

About Gazprom

Gazprom is a global energy company. Its major business lines are geological exploration, production, transportation, storage, processing and sales of gas, gas condensate and oil, sales of gas as a vehicle fuel as well as generation and marketing of heat and electric power.