Gazprom, Mitsui talk LNG cooperation progress

Russian giant Gazprom and its Japanese partner Mitsui discussed the progress of its small- and mid-scale LNG cooperation.

Gazprom’s head Alexey Miller and Tatsuo Yasunaga, president and CEO of Mitsui & Co. noted during a meeting in St. Petersburg that, as part of those efforts, an advisory body had been established for the purposes of evaluating potential joint projects.

The two parties also reviewed the status of the Sakhalin II project, Gazprom’s statement reads.

The framework agreement for cooperation on small- and mid-scale LNG has been signed in September last year.

Gazprom and Mitsui are also partners in the Sakhalin II project, which includes Russia’s first LNG plant.

The Sakhalin II operator, Sakhalin Energy, is owned by Gazprom  (50 percent plus one share), Shell (27.5 percent minus one share), Mitsui (12.5 percent) and Mitsubishi  (10 percent).