Rosneft and the Agency for Natural Resources and Energy of Japan have signed a Memorandum on the creation of a joint Coordinating Committee during the 5th Eastern Economic Forum. The Committee will contribute to the development of strategic cooperation and the implementation of new projects.

The parties will examine the participation in joint projects for the exploration and development of oil and gas fields, and development of the petrochemical business in Russia and third countries. In addition, the Committee will consider prospects for further cooperation in the areas of crude supplies, implementation of potential LNG projects and other possibilities.

Rosneft Chief Executive Officer Igor Sechin noted: “Japan and Russia have a great potential to develop cooperation in the energy sector. Rosneft is a reliable supplier of energy resources to Japan, while Japanese partners have been involved in the development of the Sakhalin-1 oil and gas fields for more than two decades. I hope that the Memorandum signed today will boost the development of the integrated cooperation between Rosneft and Japanese companies along the entire technological chain."

For reference:

Rosneft has a long experience of successful cooperation with Japanese partners. In 1996, the Company involved a pool of foreign companies, including SODECO, into the Sakhalin-1 project. The shareholders of SODECO are as follows: the Government of Japan, Japex, Itochu, Marubeni and Inpex.

In 2018, Rosneft delivered 1.8 million tons of oil and 1.1 million tons of petroleum products to Japan.

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