Today Gazprom Headquarters has hosted a working meeting between Alexey Miller, Chairman of Gazprom Management Committee and Eizo Kobayashi, President and Chief Executive Officer of Itochu Corporation.

The parties discussed issues on bilateral cooperation in the gas sector. In particular, the meeting discussed an opportunity for cooperation in the LNG production and transportation sectors and in the framework of construction project implementation for the North European Gas Pipeline and Shtokman field development.

The parties specified that dimethyl ether production is one of the most perspective cooperation trends.

Alexey Miller and Eizo Kobayashi discussed issues on prolongation of the Memorandum of Understanding on joint research work of LNG transportation project.

Reference:

Itochu Corporation is a parent company of the group of companies specializing in electronics, telecommunications, air space industry, energy, metals, mineral resources, chemistry, timbering, finance, real estate, insurance and logistics.

Sodeco (Itochu Corporation subsidiary) participates in the Sakhalin-1 project.

Itochu Corporation has been doing business with Gazprom for some thirty years. As a part of the consortium Itochu Corporation along with Sumitomo and Mitsui provided pipe deliveries for the Blue Stream Pipeline offshore section.

In 1995 Itochu Corporation became a member of the Coordinating Board of foreign investments to Russia.

The Memorandum of Understanding on joint research work for LNG transportation project was signed on September 1, 2005 by Gazprom, Mitsui O.S.K. Lines and Itochu Corporation.