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Gazprom discussed prospects for wider cooperation with Korean KOGAS and Japan Mitsui

Gazprom discussed prospects for wider cooperation with Korean KOGAS and Japan Mitsui

Vladivostok, September 6 - Neftegaz.RU.
A working meeting between Alexey Miller, CEO of Gazprom, and Hee-Bong Chae, CEO of KOGAS, took place at the 5th Eastern Economic Forum in Russia.

The meeting participants highlighted the stability of LNG supplies under the contract between Sakhalin Energy Investment Company and KOGAS. The parties expressed interest in further expanding their cooperation in the area of LNG and continuing their sci-tech collaboration.

Korean KOGAS is focused on the construction and operation of LNG receiving terminals and gas distribution networks, the implementation of international gas projects, and research and development in the gas industry.

In 2005, Sakhalin Energy Investment Company (in which Gazprom owns 50 % + 1 share) and KOGAS signed the contract for the supply of 1.5 million tons of LNG per year from the Sakhalin 2 project.

In 2016, Gazprom and KOGAS inked an Agreement of Cooperation. The document envisages a broader cooperation in the field of LNG supplies. In addition, the Agreement outlines the key avenues of cooperation, including in research and development, energy saving, environmental protection, and the NGV sector.

On the same day Alexey Miller met Masami Iijima, Chairman of the Board of Directors of Mitsui & Co. The parties discussed issues related to their cooperation, expressing appreciation for the Sakhalin 2 project, which turned 25 years old this year.

It was noted that LNG and oil from Sakhalin 2 have been purchased by as many as 19 countries around the world.

Particular attention at the meeting was paid to cooperation on small- and mid-scale LNG. Gazprom and Mitsui are partners in the Sakhalin 2 project, which includes Russia's 1st LNG plant.

To read the full story in Russian:

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