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Putin finds it possible to discuss gas supplies from Yamal LNG to Japan

September 02, 18:52 UTC+3 VLADIVOSTOK
The president suggested that such supplies could be established along the Northern Sea Route
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©  Alexei Druzhinin/Russian Presidential Press and Information Office/TASS

VLADIVOSTOK, September 2. /TASS/. Russian President Vladimir Putin considers it possible to discuss supplies of fuel from the Yamal LNG project to of Japan. This issue was raised at a meeting of the Russian leader with prospective investors of the Far Eastern Federal District.

"If the Japanese side is interested in reception of the product, I think here you just need to sit together and think about logistics," Putin said.

He suggested that such supplies could be established along the Northern Sea Route (NSR) at certain times of the year.

"Or it can be done on a swap basis. There are options," he said.

He noted that the logistics of this project is aimed at Europe and other regions, but with Japan it is possible "to work" through a swap pattern.

"Here we can agree with anyone. Gazprom may, for example, to deliver its in one direction, and you can receive appropriate quotas for other direction," Putin told the representatives of the Japanese business.

"You can negotiate with other manufacturers, you can negotiate with Qatar; it's the subject of serious negotiations, but we are ready for it and we do not see any problems," he added.

Putin said that that in general the implementation of Yamal LNG project has been quite successful.

"Surprisingly - because Arctic conditions are harsh, but everything goes according to plan, without any failures," he said.

Yamal LNG is a large scale project on creating a liquefied natural gas production facility with 16.5 mln tonnes per year capacity on the base of the South Tambey field in Russia’s Yamal peninsula. The project’s proven and probable gas reserves amount to 926 bln cubic meters. The project involves the creation of transport infrastructure, including a seaport and an airport near the Sabetta village (north-east of the Yamal Peninsula).

Novatek holds a 50.1% stake in Yamal LNG, France’s Total and China’s CNPC hold 20% each in the project, with the remaining 9.9% of shares owned by the Silk Road Fund.

Share capital of RusHydro

The president said Russia is ready to the fact that Japanese business can enter the share capital of RusHydro.

"If the Japanese partners enter the capital (of RusHydro), we will only welcome it and we do not see any political restrictions," Putin said.

"We did not and we are not going to impose any sanctions against Japan. You just have to work and negotiate with partners about terms of entering the capital," he said.

One of the participants of the meeting said that the energy bridge to the Japanese island of Hokkaido could be among possible forms of cooperation.

"We will strongly support it, we just need to find a way to make the project economically feasible. It will be a real step towards the integration of the region, Putin said.

RusHydro Group is one of the largest Russian energy holdings, combining more than 70 renewable energy facilities in Russia and abroad.

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