Rosneft and Japan's Marubeni Corporation have signed a memorandum of cooperation on the implementation of liquefied natural gas projects and the development of oil and gas fields, Rosneft said in a statement.
The memorandum was signed at a meeting between Rosneft president Igor Sechin and Marubeni Corporation president and CEO Fumiya Kokubu.
"As part of the memorandum, the parties plan to consider possibilities for cooperation in implementing an LNG project in the Russian Far East," Rosneft said.
The project includes construction of an LNG plant, transportation of LNG, equipment supplies and LNG sales to Japanese utilities.
Under the deal, the companies will also consider cooperation in exploration and development of Rosneft's oil and gas fields.
Sechin is quoted in the press release as saying that the agreement will ensure a sales market for Rosneft in Japan.
Rosneft, together with ExxonMobil, plans to set up LNG production in the Far East by 2018.
Material from Reuters was included in this report.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
