Saint Petersburg hosted a regular meeting of the Joint Coordinating Committee between Gazprom and the Agency for Natural Resources and Energy under Japan’s Ministry of Economy, Trade and Industry. The meeting was chaired by Alexander Ananenkov, Deputy Chairman of the Gazprom Management Committee and Masaaki Kimura, Director General of the Agency’s Natural Resources and Fuel Department.

The parties heard a report on the work done by the Joint Working Group in 2009 and approved its 2010–2012 action plan.

The Committee members agreed to start joint elaboration of the investment rationale for the project aimed at building liquefied natural gas (LNG) and/or compressed natural gas (CNG) production facilities, as well as the final products offloading capacities near Vladivostok.

The meeting participants addressed the progress with the investment rationale preparation for the project on creating gas processing and gas chemical facilities to be supplied with hydrocarbon feedstock from the Sobinskoye oil, gas and condensate field located in the Krasnoyarsk Krai.

A Sci-Tech Cooperation Program was approved by Gazprom and the Agency in the conclusion of the meeting.

Background:

Gazprom and the Agency for Natural Resources and Energy under Japan’s Ministry of Economy, Trade and Industry signed the Framework Agreement of Cooperation on November 21, 2005. The Agreement sets forth the key areas of bilateral cooperation in the gas sector. The Joint Coordinating Committee was established for the purpose of implementing the Agreement. The first meeting of the Committee was held in January 2007. The Committee comprises a Joint Working Group.

On December 12, 2008 Gazprom inked two Agreements with Itochu Corporation and Japan’s Agency for Natural Resources and Energy to elaborate the joint investment rationale for the project on building a gas processing plant/gas chemical complex based on the feedstock from the Sobinskoye field.

On May 12, 2009 Gazprom signed the Memorandum of Understanding with the Agency to jointly prepare a preliminary research on creating capacities for LNG/CNG and their final products near Vladivostok.

The September 3, 2007 Order by the Russian 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.