Japan and Russia developed over 200 projects in 3 years, Abe says


Japan and Russia have developed more than 200 joint projects over the past three years as part of the eight-point plan, Japanese Prime Minister Shinzo Abe said speaking at a plenary meeting of the Eastern Economic Forum (EEF) in Vladivostok.

"Over the past three years, the number of private projects in the framework of our cooperation has exceeded 200," Abe said.

As an example of fruitful cooperation, Abe cited an agreement to sell a 10% stake in the project for the construction of the Arctic LNG-2 natural gas liquefaction plant to the consortium of Japanese Mitsui&Co and Jogmec.

Economic cooperation between the two countries is based in the eight-point plan proposed by Abe in May 2016. The document implies closer bilateral ties in such areas as energy, small and medium businesses, industrialization of Russia’s Far East and the expansion of the export base. It also includes a proposal to intensify cooperation in cutting-edge technologies, nuclear energy and humanitarian exchanges.

The Arctic LNG 2 project provides for construction of three liquefied natural gas trains with the capacity of 6.6 mln tonnes per year each on gravity-based structures. The plant based on Gydan natural gas fields is scheduled to start operations in 2022-2023.

It was announced on June 29 of this year that the Russian natural gas producer Novatek will sell the 10% stake in the Arctic LNG 2 to the consortium of Japan’s Mitsui and Jogmec.

Earlier on Thursday, Russian natural gas producer Novatek and Japan’s Mitsui & Co. and Jogmec signed the final investment decision on the Arctic LNG 2 project as part of the EEF.

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