TOKYO, June 22 A consortium led by Japanese
trading house Itochu Corp is likely to agree as early
as Saturday to build an LNG plant in Russia with Gazprom
, the Nikkei newspaper reported, to meet Japan's
growing energy needs.
The Japanese group and Russia's top energy producer will
build the liquefied natural gas plant in Vladivostok with annual
capacity of around 15 million tonnes, the paper said, without
Japan's LNG imports have soared since 2011 when the
Fukushima nuclear crisis drove the country to dramatically cut
its reliance on nuclear power, so the project could help
Japanese electricity companies.
The project also benefits Gazprom, as it gains new access to
potential long-term customers.
The consortium, which is called Japan Far East Gas Co,
totals five firms, including Itochu, Japan Petroleum Exploration
and Marubeni Corp, the Nikkei said.