Kazanhosted today another meeting of the Joint Coordinating Committee (JCC) between Gazprom and the Japanese Agency for Natural Resources and Energy.

The meeting was chaired by Co-Chairmen of JCC – Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee and Hisayoshi Ando, Director General of the Agency's Natural Resources and Fuel Department.

The meeting participants discussed progress with the Vladivostok-LNG project as well as sci-tech cooperation in the gas sector.

Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee and Hisayoshi Ando, Director General of the Agency's Natural Resources and Fuel Department signed the Program for Sci-Tech Cooperation in 2012–2014 between Gazprom and the Agency. The parties agreed on particular steps to be taken for the document implementation.

Background

With its scarce domestic energy resources, Japan is the world's fourth largest energy consumer. Japan purchases 100 per cent of consumed natural gas in the form of LNG and is the world's largest LNG importer.

Gazprom and the Agency for Natural Resources and Energy under the Japanese Ministry of Economy, Trade and Industry signed the five-year Framework Cooperation Agreement on November 21, 2005. In January 2011 the Agreement was extended for another five-year period. The document sets forth the key areas of bilateral cooperation in the gas sector. A Joint Coordinating Committee (JCC) was established to implement the Agreement. A Joint Working Group is operational within JCC.

On January 11, 2011 Gazprom and the Japanese Agency for Natural Resources and Energy signed the Cooperation Agreement envisaging preparation of a joint feasibility study on the options for natural gas utilization near Vladivostok as well as for natural gas and gas chemicals transportation from the Vladivostok region and their sales among potential customers in Asia-Pacific countries. Details of the LNG plant construction near Vladivostok were also specified in the Agreement.

In 2011 Gazprom together with the Agency for Natural Resources and Energy as well as with Japanese consortium Japan Far East Gas Company conducted the preliminary feasibility study on the project of the LNG plant construction near Vladivostok.

In March 2012 Gazprom resolved to compile the Investment Rationale for the LNG plant construction near Vladivostok. The Investment Rationale is to be completed by the end of 2012.