Japan to 'Help' With Russian LNG Projects

TOKYO - Liquefied natural gas was on the agenda when the energy ministers of Russia and Japan met on Tuesday, a senior official at Japan's Ministry of Economy, Trade and Industry said.

Japan can help with LNG projects at Vladivostok and Yamal, Russia's Alexander Novak said without elaborating according to METI's Oil and Natural Gas Director Ryo Minami who was present.

Competitive pricing will raise interest from Japanese buyers, Japan's Economy, Trade and Industry Minister Toshimitsu Motegi said according to Mr. Minami. LNG demand in Japan is increasing after the country shifted away from nuclear power.

Russia is looking to sell to new markets because prices in Europe are relatively low. Two Russian companies in February announced plans to export LNG to Asia.
 

 

Copyright (c) 2012 Dow Jones & Company, Inc.

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