Gazprom Sets Sights on Japanese Power Market

October 28, 2011
Gazprom has discussed joining Japanese power generation projects during meetings in Tokyo with the heads of the energy firms Mitsui, Mitsubishi and TEPCO, the company reported in a news release.

The world's largest gas producer said the meetings "looked into the prospects of Russian-Japanese cooperation in the energy sector."

Gazprom provided no further details except to say that future deliveries from its 50-percent owned Sakhalin-2 field in the Pacific were also discussed in the talks.

Both Mitsui and Mitsubishi have previously expressed interest in joining a liquefied natural gas project Gazprom is proposing for Siberia's remote Yamal Peninsula.

Russia is currently conducting a feasibility study at the site.

Gazprom has made the Asian market a focus of its future development strategy after seeing Europe put up new restrictions barring it from directly owning pipelines and other assets in EU states.

Mitsui and Mitsubishi are natural partners for Gazprom in Japan because both already market Sakhalin-2 gas.

Russia launched its first liquefied natural gas plant at Sakhalin-2 in 2009 and sent the first shipment from it to Japan.

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