Irkutsk Oil Company and Japanese Trading Company Marubeni (Marubeni Corporation) sign Memorandum of Understanding
Оn Tuesday, July 10, Irkutsk Oil Company LLC and the Japanese trading company Marubeni (Marubeni Corporation) signed a Memorandum of Understanding. The purpose of the memorandum is to jointly explore opportunities in the following areas of potential cooperation:
- Processing of natural and associated gas, including construction of gas pipelines, gas processing and petrochemical plants, using methanol and its conversion products as raw materials;
Implementation of energy-efficient projects for environmental protection;
Use of Marubeni equipment, machinery and technologies;
Arrangement of project financing in the Irkutsk region with involvement of Japanese export credit agencies.
Ms. Marina Sedykh, Irkutsk Oil Company’s General Director, and Mr. Shoichi Ikuta, Executive Officer of Marubeni, signed the document. During the signing ceremony, Mr. Ikuta stated that the Memorandum with Irkutsk Oil Company is the first stage in Marubeni Corporation’s operations in the Irkutsk region.
In early 2010, Irkutsk Oil Company held multiparty discussions with Sibur-Vostok LLC, Irkutskenergo JSC, and Marubeni Corporation on utilization of natural and associated gas. Signing the Memorandum with Marubeni is the next step in executing Irkutsk Oil Company’s development plans for the region.
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