Russian Gazprom, Japan's Mitsui Sign Memorandum Of Understanding On Baltic LNG - Statement

VLADIVOSTOK (UrduPoint News / Sputnik - 12th September, 2018) �Russian energy giant Gazprom and Japanese Mitsui & Co. Ltd. have signed a memorandum of understanding at the Eastern Economic Forum on the liquefied natural gas plant project Baltic LNG, the Russian company said in a statement on Wednesday.

"Today Gazprom and Mitsui signed a memorandum of understanding, according to which the sides will examine cooperation possibilities of the project," the company said.

The memorandum was signed after the meeting between Gazprom CEO Alexey Miller and Mitsui Chairman of the board of Directors Masami Iijima.

Baltic LNG plant is expected to be built next to the seaport of Ust-Luga, about 70 miles west of St. Petersburg. The plant will have the production capacity of 10 million tonnes of gas per year.

The fourth Eastern Economic Forum started on Tuesday and will last through Thursday on the island of Russky in the Russian city of Vladivostok. Rossiya Segodnya is the general information partner of the forum.