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TOKYO, November 6. /TASS/. Russia is ready and capable of meeting all Japan’s demands for the liquefied natural gas (LNG) on the account of available resources, Chief Executive Officer of Russia’s Rosneft Igor Sechin said on Friday.
"Gas resources are available and we are ready to satisfy all Japan’s gas demands on the account of our resources," Sechin said. "Certainly, this will require construction of relevant infrastructure and investments into production," he added. There is a need to set up "vertically integrated chains where all partners will understand their role, investment performance, and where everything will be transparent," Rosneft CEO said.
Rosneft suggests that Japanese companies take part in construction of the Rosneft’s LNG plant in the Far East, Sechin said. "This project is at the stage of proactive discussion and examination with our Japanese partners," he said.
Japanese corporations proactively take part in loss-making energy projects in remote areas of the globe but cannot make up their mind on participation in profitable Russian projects, Chief Executive Officer of Russia’s Rosneft Igor Sechin said on Friday.
"I am surprised the Japanese are eagerly taking part in loss-making projects but as far as our proposals are concerned, where profit is generated at the level of investments payback up to 16%… we are at the stage of discussions so far," Sechin said. At the same time, Rosneft CEO expressed his hope that the situation will change soon. "We hope, as our Japan’s colleagues already noted, the discussion stage will end and we will begin the implementation stage, proving feasibility and efficiency of our cooperation," Rosneft CEO added.
According to Sechin, Rosneft has no need for additional loan facilities from Japan’s banks.
"We do not hold any special negotiations on additional loan facilities with Japanese banks; we simply do not need them," Sechin said. "Cash liquidity of the company makes possible to implement investment programs on a going basis without bringing extra resources. However, I do not rule out we will pursue such activities if Japan’s companies take part in new production projects," Sechin added.
Japan’s banks are already financing all production projects where Japanese companies are participating, Rosneft CEO said. All the payments and transactions are made in such case through Japan’s banks.
Rosneft’s Chief Executive is taking part in the first international conference dedicated to energy cooperation between Russia and Japan that opened on Friday in Tokyo.
In Sechin's words, Rosneft is ready to offer more than ten oil production projects to Japan’s partners.
"Rosneft is currently ready to offer more than ten production projects at different preparation stages to Japan’s partners, from exploration stage to commercial development stage," Sechin said. "Rosneft now offers production projects with reserves totaling 6 bln barrels and the resource base of 100 bln barrels of oil equivalent," Sechin said.
All these projects "have unique features," Rosneft CEO said. "They "are sophisticated in terms of taxation and are absolutely competitive on the global market by this parameter," Sechin said. "Our projects are offered on standardized and tested terms of accession to capital; that is, they do not require any special political and administrative examination," he added.
At the same time, despite the fact that "Japan’s colleagues are familiar with the majority of projects offered by Rosneft and numerous talks were held in respect of them, the result is fairly modest," Sechin said. "We are still at the discussion stage," he said adding that "Chinese and Indian partners already participate in such projects."
Russia’s oil export to Japan rose 20% year-on-year in January - August 2015 despite the mutual trade decline, Sechin noted.
"Despite the decline in trade between Russia and Japan this year in value terms, oil export from Russia to Japan rose 20% year-on-year in January - August 2015," Sechin said. "The energy sphere of the Russian economy, including foreign trade fuel deliveries, maintains a fairly high stability level," he said. Production of energy resources remains stable and even grows along with the export rise, Sechin added.
"Current pricing situation on the energy resources market is a benefit and an important factor to reduce costs in the economy" for energy consumers, including Japan, Sechin said. "Potential growth of LNG supplies from Australia also has restrictions," he added.
"The potential of export from Russia to the Asia-Pacific Region can be estimated at over 300 bln cubic meters of gas a year," Sechin said. "Total gas reserves in the mainland part of the Eastern Russia equal 8.7 trillion cubic meters and the resource potential is over 33 trillion cubic meters," Rosneft CEO said.
Japan’s shipbuilders and marine equipment manufacturers have an opportunity to participate in Russian shipbuilding projects, primarily in Zvezda Shipyard, Chief Executive Officer of the Russian state-owned oil and gas major Rosneft Igor Sechin said on Friday.
"Japan’s shipbuilding corporations, despite their traditional self-restraint in terms of overseas expansions, invested fairly actively during the last decade into shipyards in China, Vietnam, Brazil and Philippines," Sechin said. "Japan’s shipbuilders, such as Mitsui Engineering & Shipbuilding, Sumitomo Heavy Industries, and Kawasaki Shipbuilding, and marine equipment producers have an opportunity at present to take part in Russian shipbuilding projects, primarily in Zvezda Shipyard," Sechin said. Rosneft and other major customers already signed agreements on centralized placement of their orders in the said shipyard, he added.
"According to the conclusion of the Russian Ministry of Industry, the potential portfolio of orders for this facility will be about 1,400 vessels of various purpose and marine equipment by 2030," Rosneft CEO said. "First such agreements have already been reached, We signed an agreement with the Dutch Damen Shipyards Group on localization of shipbuilding technologies and have arrangements with Singapore," Sechin said.
"We invite all the interested companies to cooperate, certainly, including the Japanese ones," he added.