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Russia’s largest independent gas producer ready to cooperate with Japanese companies

February 29, 2016, 10:17 UTC+3 TOKYO

Novatek's official announced the company's intention to launch Russian-Japanese joint Arctic LNG project

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© Piotr Tsirendorzhiev/ITAR-TASS

TOKYO, February 29. /TASS/. Russia’s largest independent natural gas producer Novatek is ready to involve Japanese companies in the implementation of the Arctic LNG project, deputy chairman of the management committee of Novatek Denis Khramov said at the forum entitled "Russia-Japan Trade and Industry Dialogue".

"Unlike Yamal LNG, the partnership on Arctic LNG has not been configured yet, and we consider it as a significant and serious option for Russian-Japanese cooperation. Now that the project is being prepared the possibility to join the project for Japanese companies is rather convincing, and maybe even unique," Khramov said.

Russian Arctic shelf

The initial recoverable proven reserves of the Arctic shelf of Russia make up 447 mln tonnes of oil and 10.142 trillion cubic meters of gas. Initial recoverable proven reserves of the Arctic region of Russia amount to 7.652 bln tonnes of oil and 66.932 trillion cubic meters of gas.

Oil production on the Russian shelf is expected to reach 50 mln tonnes per year by 2035, 33 mln tonnes - on the Arctic shelf.

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