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TOKYO, Dec 16, 2016 - (JCN Newswire) - Mitsubishi Corporation (MC) today announced that it has signed an Agreement of Strategic Cooperation with Gazprom of Russia.
MC and Gazprom have been working in collaboration since Gazprom became a partner in the Sakhalin II Project in 2007, with both companies leveraging each other's strength to sustainably operate and produce LNG from two trains. Some 70% of the LNG produced from the project is supplied to Japan, constituting approximately 10% of the LNG imported to Japan. MC has also started looking into the expansion of the Sakhalin II Project with plans to launch a third train already being discussed with Gazprom and other shareholders, thereby deepening the ties of cooperation with Gazprom.
The Agreement of Strategic Cooperation is aimed at providing a framework for deepening the relationship of trust between the two companies, and to facilitate collaboration in other areas not limited to energy.
MC will continue seeking to leverage its comprehensive strengths as a global integrated business enterprise, including its wide network, to promote greater collaboration with Gazprom while at the same time contributing to the enhancement of economic cooperation between Japan and Russia.
Contact:
Mitsubishi Corporation
Telephone: +81-3-3210-2171
Facsimile: +81-3-5252-7705
Topic: Press release summary
Source: Mitsubishi Corporation
Sectors: Energy, Alternatives
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From the Asia Corporate News Network
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