Today the Gazprom Headquarters has hosted a working meeting between Alexander Ananenkov, Deputy Chairman of Gazprom Management Committee and Sumitaka Fujita, Vice Chairman of Itochu Corporation Board of Directors.

The parties envisaged significant prospects for cooperation to develop the gas processing and petrochemical industries in the Russian Federation within the Development Program of the integrated gas production, transportation and supply system in Eastern Siberia and the Far East with due regard of potential gas exports to China and other Asia-Pacific countries.

Alexander Ananenkov and Sumitaka Fujita expressed common opinion on the necessity to further cooperation in the frames of the Memorandum of Understanding on joint research work of LNG transportation project and on expediency to prolong the duration of the Memorandum. The parties also discussed other issues of mutual interest.

Reference:

Itochu Corporation is a parent company of the group of companies specializing in electronics, telecommunications, air space industry, energy, metals, mineral resources, chemistry, timbering, finance, real estate, insurance and logistics.

Itochu Corporation has been doing business with Gazprom for some thirty years. As a part of the consortium Itochu Corporation along with Sumitomo and Mitsui provided pipe deliveries for the Blue Stream Pipeline offshore section.

In 1995 Itochu Corporation became a member of the Coordinating Board of foreign investments to Russia.

The Memorandum of Understanding on joint research work for LNG transportation project was signed on September 1, 2005 by Gazprom, Mitsui O.S.K. Lines and Itochu Corporation. The Memorandum will last through 2007.