Background

Japan’s Mitsui & Co., Ltd. (Mitsui) is one of the world’s most diversified corporations. Its major business areas include the marketing of, and investing in, oil and gas production and processing, as well as energy infrastructure development.

Gazprom and Mitsui are partners in the Sakhalin II project, which includes Russia’s first LNG plant. The Sakhalin II operator is Sakhalin Energy Investment Company

Ltd.

In December 2016, Gazprom and Mitsui signed the Agreement of Strategic Cooperation. The document envisages collaboration in various areas, including Sakhalin II project expansion and LNG bunkering.

In September 2017, Gazprom and Mitsui inked the Framework Agreement for cooperation on small- and mid-scale LNG.

In September 2018, Gazprom and Mitsui signed the Memorandum of Understanding on the Baltic LNG project.