Russian, Japanese officials discuss Sea of Okhotsk JV, LNG plant in Vladivostok
MOSCOW. July 27 (Interfax) - The Russian-Japanese working group on cooperation in oil and gas has discussed options for setting up a joint venture to produce hydrocarbons on the Sea of Okhotsk shelf, the Energy Ministry said following the group's inaugural meeting.
The working group, made up of officials from the Russian Energy Ministry and the Japanese Economy, Trade and Industry Ministry, also discussed formation of a Russian-Japanese joint venture to develop sections in Eastern Siberia.
In addition, the officials discussed construction of an LNG plant near Vladivostok, to be supplied with gas from fields such as Kovykta and Chayanda.
The officials also viewed presentations from Gazprom , Rosneft and Irkutsk Oil Company.
The working group was set up in March 2011 following the earthquake and tsunami in Japan. The next meeting will be held in Japan in the first half of 2012.
Following the natural disasters in Japan, Deputy Prime Minister Igor Sechin and Japanese Ambassador to Russia Masaharu Kono met to discuss an expansion of cooperation, including participation by Japanese companies in development of the Chayanda and Kovykta fields and construction of an LNG plant.
Rosneft has proposed formation of a joint venture with Japan to develop the Magadan-1, -2 and -3 sections on the Sea of Okhotsk shelf and sections in Eastern Siberia. Rosneft had previously said it might invite Chinese CNPC to participate in developing the properties.
Irkutsk Oil Company is conducting geological exploration jointly with Japanese JOGMEC at the Severo-Mogdinisky, Bolshetirsky and Zapadno-Yaraktinsky sections in Eastern Siberia.
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