Gazprom and Japan’s agency for natural resources sign memorandum on Vladivostok LNG project. Russian president Vladimir Putin and Japanese Prime Minister Yoshihiko Noda witnessed the agreement being signed.

The memorandum is expected to boost the comprehensive cooperation in order to promote the financing and gas marketing aspects of the project.

“By signing the memorandum we are nearing the Vladivostok-LNG project implementation. It will have a great meaning for developing the eastern part of the Unified Gas Supply System of Russia as well as raising Russian gas supplies to Asia-Pacific markets including Japan,” announced Alexey Miller upon signing of the document. “I would like to emphasize that the Japanese market has an advantageous size and is considered a top-priority in the Far East. Gazprom and our Japanese partners with high skills in LNG projects already have a successful experience of cooperation within the existing projects.”

“The Asia-Pacific markets – the most capacious in the world will, in the next few years of the volumes of gas delivered to it by Gazprom, will exceed the volume of supplies to Europe. The Eastern gas program is our priority and is being actively implemented. But taking into account the dynamics of the growth of gas demand in the Asia-Pacific region, now the decisions will be made of its’ considerable acceleration” noted Alexey Miller.north