Marubeni Corporation (Marubeni) has signed a Heads of Agreement (HOA) with Russia’s Rosneft Oil Company (Rosneft) for Sale and Purchase of Liquefied Natural Gas (LNG).

Pursuant to this HOA, Marubeni and Rosneft will enter into negotiation of the long-term LNG Sale and Purchase Agreement for an offtake of 1.25 million tons per annum of LNG to be produced from the LNG project planned in Russian Far East which Rosneft aims to commence production from 2019.

This HOA is in line with the Memorandum on Cooperation signed by Marubeni and Rosneft on April 17, 2013, to jointly conduct studies and develop plans for exploration/development of oil and gas fields, marketing and transportation of LNG, engineering and construction of an LNG plant, supply of equipment and machinery, financing to realize LNG project in the Russian Far East.

Through LNG and other energy related business with Rosneft in the Russian Far East, Marubeni is committed to contribute to economic exchange and development of Japan and Russia and also to further diversification and stabilization of energy supply source in the Far East Asia region, including Japan.

 

<Outline of Rosneft>

Company name	:	Rosneft Oil Company
Business	:	Exploration, development, refining and sale of oil and gas
Location	:	Moscow, Russia
President	:	Mr. Igor Sechin