Rosneft, Marubeni Corporation and Mitsubishi Heavy Industries ltd. signed a Cooperation Agreement on a joint feasibility study for a project to build a gas chemical facility in the Far East of Russia. The document was signed on the sidelines of Russian President Vladimir Putin's official visit to Japan by Rosneft Chief Executive Officer Igor Sechin, President and Chief Executive Officer of Marubeni Corporation Fumiya Kokubu and Senior Vice President of Mitsubishi Heavy Industries ltd. Yoichiro Ban.
According to the document signed, Rosneft jointly with its Japanese partners will conduct a feasibility study for a world-class chemical complex to be built with advanced Japanese technologies. The new facility will be located in the Russian Far East. The exact location will be determined upon completion of this joint research.
The project feasibility study will be based on the agreements signed between Rosneft and Marubeni at the St. Petersburg International Economic Forum in June 2016.
The construction of a gas chemical facility was selected by the Japanese government as one of the projects to be implemented in Russian-Japanese cooperation. The project will expect financial support from the Japanese Ministry of Economy, Trade and Industry.