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NOVATEK, Mitsui O.S.K. Lines & JBIC Signed Cooperation Agreement

Source: www.gulfoilandgas.com 9/26/2019, Location: Asia

PAO NOVATEK (NOVATEK) Mitsui O.S.K. Lines, Ltd. (MOL) and Japan Bank for International Cooperation (JBIC) signed a Cooperation Agreement confirming the parties’ intentions to implement projects for the construction of a marine LNG transshipment complexes in the territory of Kamchatka and Murmansk region (hereinafter – “Projects”), including possible acquisition of participation interest in Projects and potential financing of Projects.

“We have already started successful cooperation with Japanese companies in large LNG projects, including Yamal LNG and Arctic LNG 2, and, accordingly, we see great potential in expanding further this mutually beneficial cooperation,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board.

“The construction of the Kamchatka and Murmansk transshipment complexes will help to optimize logistics and maximize the efficiency of LNG deliveries from Yamal and Gydan to LNG key markets of the Asia-Pacific region, including Japan, the largest global LNG consumer. We think we will reach final arrangements for these projects by year end”.

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