Gazprom Vladivostok Deal Said to Be Imminent
Gazprom could be set to sign an agreement to build an LNG plant in Vladivostok, Russia, with Itochu and Japan Petroleum Exploration (JAPEX), various media outlets have reported.
An agreement on the construction of the $7 billion project could be signed at the Asia-Pacific Economic Cooperation summit in Vladivostok, which will be held on September 8th and 9th, Reuters has reported.
Japanese news agency Nikkei has also reported that the signing will be attended by Japanese Prime Minister Yoshihiko Noda as well as Russian President Vladimir Putin.
Gazprom has recently raised the matter of constructing an LNG plant at Vladivostok with Japanese government officials, discussing the matter with Japanese delegates in May of this year. The company also said at the time that it was considering building a pipeline directly to Japan.
Gazprom has also undertaken a feasibility study on an LNG plant in Vladivostok together withwith the Agency for Natural Resources and Energy as well as with the Japan Far East Gas Company, a consortium of Japanese companies comprising Itochu, JAPEX, Marubeni, INPEX and Cieco. The feasibility study was completed last year.