Rosneft Holds Round Table with Japanese Business Representatives at the Eastern Economic Forum

As part of the 5th Eastern Economic Forum, Rosneft has held a round table with leading representatives of the energy industry of Japan and heads of major Japanese corporations. Participants of the event discussed the prospects of cooperation and the existing projects of Rosneft and Japanese companies. 

The event was attended by Deputy Commissioner of the Agency for Natural Resources and Energy at the Ministry of Economy, Trade, and Industry (METI) Hirohide Hirai, Managing Executive Officer of Marubeni Akihiko Sagara, Chairman of the Board of SODECO Masanori Toyoshima, Senior Executive Officer of JGC Corporation Masahiro Aika, Member of the Board and Executive Vice President of Mitsui O.S.K. Lines Takeshi Hashimoto, Deputy General Manager of Oil & Gas Upstream Business Development Department of ITOCHU Corporation Tetsuya Yamada, and General Director of Mitsubishi Heavy Industries Russia Yukihiko Okumura. The event was also attended by METI Director for Oil and Natural Gas Division Masato Sasaki, representatives of JOGMEC, JBIC bank, and many others.

Rosneft Chief Executive Officer Igor Sechin addressed the participants of the event with a welcoming speech.

«Russia has a unique resource base and is a close neighbour of your country. And we value the relationship of trust with Japanese companies; our partnership with them is extremely important for Rosneft. We recognise technological competences of our Japanese colleagues and the business conduct of Japan, which is known for hard work and perseverance. Working with such partners is reliable and comfortable», the Head of Rosneft said.

Japanese companies were among the pioneers to invest in promising oil and gas projects in Russia. Igor Sechin reminded that the Japanese consortium SODECO has been jointly working with Rosneft at the Sakhalin-1 production project since the mid-90s. The accumulated output at the Sakhalin-1 project has already reached 114 million tonnes, and 26 billion cubic metres of gas has been delivered to the consumers. «This year, shareholders made a decision to build our own LNG plant in De-Kastri with a capacity of 6.2 million tonnes. Its products will be much in demand in Japan due to the geographical proximity of the two countries», Igor Sechin noted.

He also stressed that Rosneft has been a reliable fuel supplier to Japan for many years. Since 2016, the Company has delivered over 10 million tonnes of crude and oil products to the country, worth almost $5 billion. Rosneft’s supplies accounted for a third of the scope of the Japanese import from Russia in 2018.

«Currently we are discussing some infrastructure projects on storing crude and oil products in Japan. We welcome the interest of our Japanese partners in production projects in Russia», the Company’s Chief Executive Officer told.

He said that Rosneft offers its Japanese partners stakes in 15 promising upstream and downstream projects.

With reference to this, Igor Sechin emphasised the Vostok Oil project bearing strategical importance that would comprise the resource bases of Vankorskoye, Lodochnoye, Tagulskoye, Suzunskoye, Paiyakhskoye and other fields of Krasnoyarsk Krai. Vostok Oil will be the anchor consignor for the Northern Sea Route. «Now the Russian Government is working on a scope of tax incentives for the implementation of the country’s most important region’s potential», the Head of Rosneft said.

Rosneft
Information Division
Phone: + 7 (499) 517-88-97
September 5, 2019