Marubeni, Rosneft Sign LNG Deal

Japan's Marubeni Corporation has signed an agreement with Russia’s Rosneft for sale and purchase of LNG.

As per the agreement, Marubeni and Rosneft will enter into negotiation of the long-term LNG sale of 1.25 million tons per annum of LNG to be produced from the LNG project planned in Russian Far East which Rosneft aims to commence production from 2019.

This agreement is in line with the Memorandum on Cooperation signed by Marubeni and Rosneft on April 17, 2013, to jointly conduct studies and develop plans for exploration/development of oil and gas fields, marketing and transportation of LNG, engineering and construction of an LNG plant, supply of equipment and machinery, financing to realize LNG project in the Russian Far East.