Gazprom, Mitsubishi talk Sakhalin II expansion progress

Alexey Miller, the head of the Russian giant Gazprom on Friday discussed liquefied natural gas (LNG) cooperation with Takehiko Kakiuchi, president and CEO of Mitsubishi Corporation.

The parties reviewed issues related to joint efforts under the Sakhalin II project, including the construction of the third train of the LNG plant.

A focus was also placed on cooperation prospects in the LNG sector, Gazprom said in a statement.

The two companies have signed an agreement of strategic cooperation to advance their partnership in the LNG sector.

Both companies own a share in Sakhalin Energy, the company operating Russia’s only LNG export plant currently in operation.

Gazprom owns 50 percent plus one share, with the remaining shareholders being Shell (27.5 percent minus one share), Mitsui (12.5 percent) and Mitsubishi 10 percent).