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Gazprom and Mitsui discuss LNG cooperation in meeting

Discussions focus on small- and mid-scale LNG and the construction of the third train at the Sakhalin II LNG plant.



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Updated on 18 Oct 2017 07:17 GMT

The heads of Gazprom and Mitsui met in Moscow on Tuesday to discuss the status of their LNG cooperation.

Alexey Miller, chairman of Gazprom's Management Committee, and Tatsuo Yasunaga, CEO of Mitsui, held a working meeting where they focused on their cooperation in small- and mid-scale LNG and the construction of the third train of the Sakhalin II LNG plant.

The meeting follows the signing of a framework agreement last month, where both firms agreed to collaborate in the production, transport and marketing of small- and mid-scale LNG in Japan, as well as LNG bunkering in the Sea of Japan.

In December 2016, the two companies also inked an agreement of strategic cooperation that included the LNG bunkering of ships and the Sakhalin II project expansion.

Gazprom and Mitsui are partners in the Sakhalin II project, which includes Russia's only active LNG plant. Sakhalin II is operated by Sakhalin Energy Investment Company Ltd, which is owned by Gazprom (50 percent plus one share), Shell (27.5 percent minus one share), Mitsui (12.5 percent), and Mitsubishi (10 percent).

In 2016, the LNG plant produced upward of 10.9 million tonnes of LNG, exceeding the annual design capacity by over 1.3 million tonnes.






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