Russian energy giant Gazprom and Japanese Mitsui & Co. Ltd. have signed a memorandum of understanding at the Eastern Economic Forum on the liquefied natural gas plant project Baltic LNG, the Russian company said in a statement on Wednesday. The memorandum was signed after the meeting between Gazprom CEO Alexey Miller and Mitsui Chairman of the Board of Directors Masami Iijima.
Baltic LNG plant is reportedly expected to fulfill the demands of the European and Latin American markets. Last year, Gazprom has announced that that Baltic LNG plant would start its operations in 2022-2023 while the date could be reconsidered after the planning documentation on the project would be finished.
The fourth Eastern Economic Forum kicked off Tuesday and will last through Thursday on the island of Russky in the Russian city of Vladivostok.