Rosneft, Marubeni to Jointly Explore for Oil and Gas. Sign LNG Deal

On April 17, 2013 Rosneft and Marubeni Corporation signed Memorandum of Cooperation in LNG project implementation and joint exploration and development of oil and gas fields. The document was signed by Igor Sechin, Rosneft President and Chairman of the Management Board, and Fumiya Kokubu, Marubeni Corporation President and CEO, Member of the Board.

As part of the Memorandum the parties plan to consider possibilities for cooperation in implementing the LNG project in the Russian Far East, which includes engineering and construction of LNG plant, financing, transportation of LNG including operation of tankers, supply of equipment and machineries, marketing of LNG to Japanese utilities. The document signed also envisages joint study of possibilities for cooperation in exploration and development of oil and gas fields at Rosneft license areas.

Commenting on the signing, Igor Sechin said: “We are glad one of the leading Japanese companies has decided to join our plans to explore and develop oil and gas fields as well as implement the LNG project in the Russian Far East. Agreements reached today are aimed, among other things, at ensuring sales market in Japan, which will strengthen Rosneft positions at the promising Asia-Pacific market”.

Fumiya Kokubu said: “We are very delighted that Marubeni concluded this Memorandum of strategic alliance with Rosneft on the LNG project in the Russian Far East, including exploration and development of oil and gas fields. We are committed to exerting our best efforts for success of the project with Rosneft in the area including marketing, financing, transportation and engineering, procurement and construction. Success of this project will surely contribute to security of energy supply not only for Japan but for entire Far East Asia region.”

 

Press Release, April 17, 2013

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