The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Masami Iijima, President and Chief Executive Officer of Mitsui.

The parties discussed the possible areas of cooperation to restore sustainable energy supply in Japan. The parties were unanimous saying that Gazprom's additional LNG volumes were very important for the energy supply stabilization in the country.

Alexey Miller said that, if necessary, Gazprom was ready to examine the possibility of additional LNG supplies to Japan.

During the negotiations the issues of perspective interaction between the companies as part of the Sakhalin II project were closely examined. The possible directions of cooperation in gas processing and gas chemistry as part of the Eastern Gas Program were also discussed.

The Japanese party noted that LNG demand would rapidly grow opening up new horizons for cooperation with Gazprom.

Summing up the meeting Alexey Miller said, “I would like to pay special attention to the fact that today's negotiations have been based on a positive attitude of both parties to large-scale cooperation in the gas sector.”

Background

Mitsui & Co., Ltd (Mitsui) is a Japanese company engaged in developing, purchasing, selling, distributing and processing all types of energy products both in Japan and abroad, as well as in financial activities.

Mitsui holds a 12.5 per cent stake in Sakhalin Energy – operator of Sakhalin II, the world's largest petroleum project. Participating in the project are also Gazprom (50 per cent plus one share), Shell (27.5 per cent) and Mitsubishi (10 per cent).

On February 18, 2009 the first Russian LNG plant was commissioned as part of the Sakhalin II project. The first Russian LNG carrier arrived in Japan in April 2009.

In 2011 Gazprom Group supplied Japan with 5 additional LNG cargoes with the total volume of 440 billion cubic meters.

The September 3, 2007 Order by the Russian Federation Industry and Energy Ministry approved the Development Program for an integrated gas production, transportation and supply system in Eastern Siberia and the Far East, taking into account potential gas exports to China and other Asia-Pacific countries (Eastern Gas Program). Gazprom was identified by the Russian Government as the Program execution coordinator.