TOKYO, January 9. /TASS/. Japan’s Saibu Gas is examining a joint project with Russian gas producer Novatek for sales of liquefied natural gas (LNG) in countries of the Asia-Pacific Region, Kyodo news agency reported. As reported earlier, Novatek already inked a memorandum with Saibu Gas concerning use of the LNG terminal in Japan. More specifically, it refers to temporarily unloading and storage of LNG produced by Novatek at the LNG terminal of Saibu Gas in Kitakyushu. Gas is planned for reloading to other tankers and delivery to consumers. The Japanese company plans to make a decision on this project in 2019 financial year in order to start the project in 2023 financial year in case of a positive conclusion. Russia’s liquefied natural gas exports to Asia-Pacific nations soared by 58.6% to 26 bln cubic meters in 2018, as reported earlier. Novatek has already launched in full swing the Yamal LNG Plant in Russia and plans to implement the second project of Arctic LNG 2. Japan and Asia-Pacific economies are viewed as primary markets for sales from these projects.
Japanese gas supplier Novatek is considering a joint project with Russia's gas producer Saibu Gas to market liquefied natural gas in the Asia-Pacific region, where Russian sales rose 58.6% to 26 billion cubic meters in 2018. The two firms previously signed a memorandum of understanding covering the temporary unloading and storage of Saibu Gas-produced LNG at Saibu's Kitakyushu terminal. The Japanese firm is set to make a decision this year, with the scheme set to begin in 2023.