On November 28, 2017, Marubeni Corporation (“Marubeni”) and Mitsui O.S.K. Lines, Ltd. (“MOL”) signed a Memorandum of Understanding (“MOU”) in Moscow with PAO NOVATEK (“NOVATEK”), Russia’s largest independent gas production and sales company, to conduct a joint feasibility study aimed at establishing an LNG transshipment and marketing complex in the Kamchatka area (“Project”).

 

This Project will create offshore infrastructure to transship LNG cargoes from ice-breaking LNG ships to standard LNG ships. The LNG will be produced in LNG projects NOVATEK is implementing in the Arctic region. The Project will ensure flexible LNG supply to the Asia-Pacific region.

 

Marubeni and MOL will contribute not only to the mutual relationship between Japan and Russia, but to the stable supply of LNG to the Asian-Pacific region including Japan.

 

<Outline of NOVATEK>

Company name: PAO NOVATEK

Establishment: 1994

Chairman of the Management Board: Leonid MIKHELSON

Location: 22 A, Pobedy street, Tarko-Sale, Yamalo-Nenets Autonomous District, 629850, Russia

Business: Exploration, production, processing and marketing of natural gas and various hydrocarbon resources