TOKYO, Dec 16, 2016 - (ACN Newswire) - Mitsubishi Corporation (MC) today announced that it has signed an Agreement of Strategic Cooperation with Gazprom of Russia.
MC and Gazprom have been working in collaboration since Gazprom became a partner in the Sakhalin II Project in 2007, with both companies leveraging each other's strength to sustainably operate and produce LNG from two trains. Some 70% of the LNG produced from the project is supplied to Japan, constituting approximately 10% of the LNG imported to Japan. MC has also started looking into the expansion of the Sakhalin II Project with plans to launch a third train already being discussed with Gazprom and other shareholders, thereby deepening the ties of cooperation with Gazprom.
The Agreement of Strategic Cooperation is aimed at providing a framework for deepening the relationship of trust between the two companies, and to facilitate collaboration in other areas not limited to energy.
MC will continue seeking to leverage its comprehensive strengths as a global integrated business enterprise, including its wide network, to promote greater collaboration with Gazprom while at the same time contributing to the enhancement of economic cooperation between Japan and Russia.
About Mitsubishi Corporation
Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. With over 200 bases of operations in approximately 80 countries worldwide and a network of over 500 group companies, MC employs a multinational workforce of nearly 60,000 people. For more information, please visit www.mitsubishicorp.com.
Source: Mitsubishi Corporation
Contact:
Mitsubishi Corporation Telephone: +81-3-3210-2171 Facsimile: +81-3-5252-7705
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