Japan's JOGMEC Says Ready To Help Local Business To Invest In Russia's Arctic LNG 2

The Japan Oil, Gas and Metals National Corporation (JOGMEC) is ready to help Japan's business community with investments and credit guarantees to purchase a share or other form of participation in the Arctic LNG 2 project of Russia's Novatek gas giant, JOGMEC President Tetsuhiro Hosono told Sputnik on Tuesday.

ABU DHABI (UrduPoint News / Sputnik - 13th November, 2018) The Japan Oil, Gas and Metals National Corporation (JOGMEC) is ready to help Japan's business community with investments and credit guarantees to purchase a share or other form of participation in the Arctic LNG 2 project of Russia's Novatek gas giant, JOGMEC President Tetsuhiro Hosono told Sputnik on Tuesday.

"We are a government body that does not do business by itself. So, if someone has an interest in buying a share or products of this project, we are ready to discuss it and provide assistance in equity investments, credit guarantees and so on.

It all depends on the private sector," Hosono said.

In September, Novatek and JOGMEC signed a memorandum to confirm the intention, among others, to explore the possibilities of cooperation on the projects of the Russian company, including Arctic LNG 2.

Arctic LNG 2, located offshore near the remote Gydan Peninsula in northwestern Siberia, is Novatek's second large-scale LNG project. While it is expected to be launched by 2025, Novatek is currently working to complete the Yamal LNG project, located near the Gydan Peninsula as well.