Russia Backs $12.6B Gazprom LNG Project To Service Japan

Law360, New York (June 25, 2012, 5:13 PM EDT) -- The Japanese and Russian governments on Monday endorsed a sweeping project Gazprom OAO and a consortium of private Japanese companies are exploring to build a liquefied natural gas plant and shipping terminal at the eastern energy hub of Vladivostok, Russia.

The project, which will reportedly cost 1 trillion yen ($12.6 billion), forms the centerpiece of a bilateral memorandum of understanding that aims to promote cooperation between resource-rich Russia and neighboring Japan, the biggest LNG importer in the world, according to a statement from the Russian Ministry...
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