Gazprom and Mitsubishi consider prospects for cooperation deepening in LNG sector
RELEASE
Release
Vladivostok hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Yorihiko Kojima, Chairman of the Board of Mitsubishi Corporation as part of the Eastern Economic Forum.
The parties discussed the key issues of the cooperation between the companies in the gas industry. The focus of the meeting fell on the prospects for the cooperation deepening in the LNG sector, including the Sakhalin II project.
Background
Mitsubishi Corporation is engaged in manufacturing and sales of various products (from textile to machinery & equipment), management consulting, attracting state-of-the-art technologies, fund raising and coordinating of projects.
As part of Sakhalin II, Russia’s first LNG plant with the annual capacity of 9.6 million tons of LNG was commissioned in 2009. Sakhalin Energy is the Sakhalin II project operator with the ownership distributed among Gazprom (50 per cent plus one share), Shell (27.5 per cent minus one share), Mitsui & Co. (12.5 per cent) and Mitsubishi Corporation (10 per cent). The plant produced 10.7 million tons of LNG in 2014.