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    Gazprom Sees Opportunities in China and Japan

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Summary

Gazprom is willing to diversify its portfolio. Asia is the first peak, China the most logical investment.

by: Sergio

Posted in:

Natural Gas & LNG News, News By Country, , China, , Russia, Liquefied Natural Gas (LNG)

Gazprom Sees Opportunities in China and Japan

After recent cooperation agreements signed by China National Petroleum Corp (CNPC) with Novatek and Rosneft, Gazprom joins competitors in what seems more than a simple coincidence. With Ukraine closer than ever to a free trade agreement with Brussels, Russia looks east. And Gazprom intends on leading the expedition to China and Japan.

Beijing hosted on Monday a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Zhou Jiping, Chairman of China National Petroleum Corporation (CNPC). Gazprom is trying to reinforce its position, with the meeting pariticipants looking into the development prospects for bilateral interaction in the energy sector. Gazprom is paying particular attention to natural gas supply via the eastern route.

On TuesdayVitaly Markelov, Deputy Chairman of the Gazprom Management Committee, delivered a presentation of the Vladivostok-LNG project in Vladivostok on the Russky Island. The presentation was intended for prospective purchasers of liquefied natural gas (LNG) and partners from Japan.

The Asia-Pacific LNG market is the most receptive and fast growing in the world, with Japan being one of the major consumers there.

In this sense, Gazprom is willing to diversify its portfolio. Asia is the first peak and China the most logical investment. The two BRIC countries have indeed compatible needs: China needs energy, Russia needs to sell it.