Rosneft, Marubeni sign agreement for joint oil, gas E&D

Rosneft and Marubeni Corp. signed a memorandum of cooperation covering possible joint oil and exploration and development as well as associated LNG project implement, the companies reported.

The companies envision joint studies regarding exploration and development of oil and gas assets already held by Rosneft. The memorandum also calls for the companies to consider cooperatively implementing an LNG project in the Russian Far East with gas marketing directed toward Japanese utilities.

In February, Rosneft Pres. and Chairman Igor Sechin met with executives from Marubeni and other companies from Japan and China to discuss establishing partnerships in Russian offshore Arctic projects and possibly future LNG projects (OGJ Online, Feb. 20, 2013).

“We are glad one of the leading Japanese companies has decided to join our plans,” Sechin said in an Apr. 17 statement. “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.”

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