Today, the Gazprom Headquarters has hosted a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Yasuo Saito, Ambassador of Japan to Russia.

The parties examined the prospects for further cooperation in the oil and gas sector in the frames of the Agreement of cooperation between Gazprom and Japanese Agency of Natural Resources and Energy signed in November 2005. Particularly, the meeting discussed an opportunity to attract Japanese investments and technologies for development of Gazprom’s projects in the gas processing and gas chemical sectors in Eastern Siberia and the Far East. Additionally, the parties underscored that there were good perspectives to develop sci-tech cooperation.

Yasuo Saito expressed an opinion that Gazprom’s joining the Sakhalin-2 project as the main shareholder would give an extra dynamics and provide stable LNG deliveries to Japan.

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With scarce domestic energy resources, Japan is the world’s fourth-largest country in terms of energy consumption. The country annually consumes some 80 bcm of gas the share of which stands at 13 per cent in the national energy basket. Japan imports 100 per cent of overall gas consumed in the form of LNG and is the world’s top LNG importer.

On November 21, 2005 Gazprom and Agency of Natural Resources and Energy of the Japanese Economy, Trade and Industry Ministry signed a framework Agreement of cooperation. The Agreement stipulates the major directions of bilateral cooperation in the oil and gas sector. The joint Coordinating Committee was set up in the aim of implementing the Agreement. The first meeting of the Coordinating Committee was held in January 2007.