Russia’s Gazprom gas holding and Japanese Mitsui have nailed down a deal on a Baltic LNG project envisaging the construction of a liquefied gas plant in the Leningrad region.
The corresponding Memorandum of Understanding has been signed by heads of the companies on the sidelines of the Eastern Economic Forum, which is being held these days in Vladivostok.
“Today, Gazprom and Mitsui signed a Memorandum of Understanding, according to which the possibilities of cooperation under the project will be considered”, Chairman of the Board of the Russian energy giant Alexey Miller said. He has stressed that Japan is one of the largest consumers of liquefied natural gas supplied by Gazprom. So, last year, Japan accounted for about 36% of the company’s total LNG sales.
We should remind you that within the framework of the Baltic LNG project, an enterprise is planned to be built in Ust-Luga, the Leningrad region of Russia, which will produce up to ten million of liquefied gas annually. The project is estimated at $18,5 billion. Apart from Mitsui, Royal Dutch Shell and Mitsubishi are considered to be potential partners.