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MOL and Marubeni sign cooperation agreement with JPPV

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LNG Industry,

Mitsui O.S.K. Lines (MOL) and Marubeni Corp. have signed a business cooperation agreement with Japanese Project Promotion Vehicle in the Far East LLC (JPPV).

JPPV is jointly established by Japan Bank for International Cooperation, Far East Investment and Export Agency, and Far East and Baikal Region Development Fund. Its objectives are encouraging Japanese companies to launch business in Russia, as well as promoting Japanese investment in Russia and the Far East. The agreement aims to draw upon JPPV’s expertise in order to smoothly establish LNG transhipment terminals in the Far East.

MOL and Marubeni have signed a memorandum of understanding (MoU) with PAO NOVATEK for a joint feasibility study aimed at establishing an LNG transhipment and marketing complex off Kamchatka Peninsula, where Advanced Special Economic Zones (ASEZ) are located. This agreement is key for the successful commercialisation of the transhipment terminal.

MOL and Marubeni claims that they will not only contribute to the mutual relationship between Japan and Russia, but also to continued regional development in the Russian Far East.

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