Gazprom and Japan Far East Gas Co., Ltd., a consortium of ITOCHU, JAPEX, MARUBENI, INPEX, CIECO, have signed a memorandum of understanding about cooperating on the Vladivostok LNG project. The memorandum was signed on June 22 at the St. Petersburg International Economic Forum 2013 by Alexey Miller, Chairman of the Gazprom Management Committee and Masanori Toyoshima, Executive Officer and Chief Operating Officer of Japan Far East Gas Co., Ltd.
The MOU sets out the main principles of further joint activities on the project, along with joint marketing efforts for the project in Japan.
The proposed plant will have a capacity of 15 million tpy of LNG and will be constructed near Vladivostok (Primorye Territory). The first train will have an annual capacity of 5 million tpy and will be commissioned in 2018. The plant will be supplied with gas from the Sakhalin (Sakhalin II and Sakhalin III projects), Yakutia and Irkutsk gas production centers.
The two companies already carried out a Joint Feasability Study on the project back in 2011 and in February 2013 Gazprom took a final investment decision on the project. An action plan for constructing the LNG plant was also approved in March 2013 along with a plan for establishing the plant’s resource base.
“At the meeting our Japanese colleagues noted that gas demand in Japan was expected to keep growing, and we will build our plans based on this. We agreed that our specialists would work with potential customers. For this purpose a number of people being employed in Japan will be increased. In the short run we will arrange an on-the-spot visit to the Far East for potential customers, where they will have an opportunity to get acquainted with the construction site of the future plant, the operation of the gas transmission system and the resource base for the project.” said Alexey Miller.
Written by Peter Farrell.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/24062013/japan-and-gazprom-sign-mou-for-cooperation-on-vladivostok-lng-project/