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Gazprom and Japan Bank for International Cooperation discuss further cooperation

November 10, 2016, 17:30

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Tadashi Maeda, CEO and Executive Managing Director of Japan Bank for International Cooperation (JBIC), took place at the Gazprom headquarters today.

The meeting participants expressed appreciation for the fruitful cooperation between Gazprom and JBIC. Specifically, JBIC participated in financing the Blue Stream construction project and the Sakhalin II project.

The parties discussed further cooperation, speaking in particular about the potential involvement of JBIC in financing the construction of the third train of the Sakhalin II LNG plant and the Amur gas processing plant.

Background

Japan Bank for International Cooperation (JBIC) was set up in 1999 as a state-owned financial institution aimed at developing economic cooperation with foreign countries. It has been part of the state-owned financial institution Japan Finance Corporation since 2008. The bank is focused on supporting international economic activities of Japanese companies.

Russia's only LNG plant is in operation under the Sakhalin II project. The Sakhalin II operator is Sakhalin Energy Investment Company Ltd. (Gazprom – 50 per cent plus one share, Shell – 27.5 per cent minus one share, Mitsui – 12.5 per cent, and Mitsubishi – 10 per cent). In 2015, the plant produced 10.8 million tons of LNG, exceeding the design capacity by 1.2 million tons. On June 18, 2015, Gazprom and Shell signed the Memorandum to implement the construction project for the third production train of the LNG plant. At present, the development of the FEED documents for the third train is nearing completion.

The Amur gas production plant (GPP) with a design capacity of 42 billion cubic meters of gas per year will be constructed near Svobodny in the Amur Region. The GPP will include the world's largest helium production facility.

 

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