Marubeni, Rosneft JV LNG project implementation in Russia

Marubeni, Rosneft JV for LNG project implementation in Russia

11:09 AM, 18th April 2013
Marubeni, Rosneft JV for LNG project implementation in Russia

MOSCOW, RUSSIA/TOKYO, JAPAN: Marubeni Corporation signed a Memorandum for Strategic Partnership with Russia’s largest national oil company, Rosneft, in LNG project implementation in the Russian Far East and joint oil and gas field exploration and development. Marubeni has established a long-standing partnership with Rosneft through the offtake of crude oil and naphtha, supply of equipments for petrochemical plants, joint logistics/supply base business on Sakhalin Island, and other business.

The agreement reached this time, looking towards launching the LNG project in the Russian Far East, is for both companies to jointly conduct studies and consider plans for marketing of LNG, engineering and construction of an LNG plant, supply of equipment and machinery, financing, and transportation of LNG. The agreement also envisages joint study of exploration and development of oil and gas fields at Rosneft license areas.

By further enhancing the partnership with Rosneft through energy related business, such as LNG and other development projects in the Russian Far East, Marubeni is committed to contributing not only to a new stage of mutually beneficial relations between Japan and Russia, but to stable supply of energy in the entire Far East Asia region, including Japan.

© WOC News

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