A meeting between Alexey Miller, the Chairman of the Gazprom PAO (ADR)(OTCMKTS:OGZPY) Management Committee, and Mr. Tadashi Maeda, the CEO and Executive MD of JBIC, took place at the company’s headquarters last week. The meeting participants conveyed appreciation for the productive cooperation between JBIC and Gazprom. Specifically, JBIC joined in funding the Blue Stream construction assignment and the Sakhalin II assignment.
The parties conversed further cooperation, talking in specific about the potential contribution of JBIC in funding the manufacture of the next train of the Sakhalin II LNG plant as well as the Amur gas processing plant.
The buzz
In addition to this, Gazprom hosted a working meeting its at headquarters between Miller and Alexander Kozlov, the Governor of the Amur Region. They discussed the advancement of the Cooperation deal, paying attention to company’s large-scale investment assignments, Power of Siberia and Amur GPP, being executed in the Amur Region.
It was recorded that the assignments were working on schedule. Explicitly, preparations are ongoing for the advancement of the cross-border segment of the Power of Siberia gas pipeline based in Russia. The preparation of Amur GPP site is advancing and work progresses on the advancement of access roads, railroad facilities, a river wharf, temporary buildings and installations, comprising a shift camp for builders.
Additionally, Kozlov and Miller addressed issues pertaining to setting up the Svobodnenskaya PDA in the Amur area. Gazprom Pererabotka Blagoveshchensk constructing the Amur GPP is scheduled to become a resident firm in this PDA.
The parties considered the assignments for supplying the respective area with pipeline natural gas to be supported from Power of Siberia. Presently, the adjustment of the General Plan for Gasification of and Gas Supply to the Amur Region is approaching closure and the regional gasification plan to 2026 is being discussed.
The financial performance
A couple of months ago, Gazprom posted earnings for 1Q2016, revealing a 5% drop in net profit amid a jump in costs and a consistent drop in fuel prices. Shares of the firm traded down 0.22% in the last trading session, and closed at $4.51.
