Today Grand Hotel Polyana, an Olympic facility in Sochi, hosted the 3rd meeting of the Joint Coordinating Committee (JCC) between Gazprom and the Agency for Natural Resources and Energy, Japan’s Ministry of Economy, Trade and Industry.

The parties examined the progress achieved since the 2nd meeting of the JCC. In particular, the parties discussed the interim results of the studies on a Krasnodar Krai based gas processing and gas chemicals facility project, and took the decision to continue interacting in that area.

The JCC paid much attention to developing scientific and technical cooperation (STC) and ordered to prepare as shortly as possible for signing a STC Agreement and a STC Program.

The JCC stressed the need of intensifying the work within the joint implementation projects as part of the Kyoto Protocol. The accord was reached on further assisting companies from both countries in the organization of large diameter pipe and machine building product manufacture for the Eastern Gas Program projects in the Far East of Russia. The parties exchanged their views on cooperation in seaborne transportation of LNG. In that context the Memorandum of Understanding between Gazprom and Itochu, Mitsui O.S.K.Lines was extended.

The meeting resulted in the endorsement of the 2008 Action Plan of the Joint Working Group between Gazprom and the Agency.

“Gazprom highly appreciates the progress in the joint work with its Japanese partners within the high-tech projects covering gas processing as well as aimed at promoting the creation of large diameter pipe, machine and equipment production facilities in Russia for the domestic oil and gas industry. This work will be continued,” said Alexander Ananenkov at the end of the meeting.

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The Framework Agreement of Cooperation between Gazprom and Japan’s Agencyfor Natural Resources and Energy was signed in 2005. The top priority areas of cooperation include gas processing and gas chemicals, ecology and energy conservation, assistance to machine builders from both countries in turning out products for the oil and gas industry in the Far East of Russia.