Press release: Gazprom and JBIC discuss cooperation prospects

Background

Japan Bank for International Cooperation was set up in 1999 as a state-owned financial institution aimed at developing economic cooperation with foreign countries. The bank is focused on supporting international economic activities of Japanese companies.

Gazprom and JBIC have established a long-standing and fruitful cooperation. Specifically, JBIC participated in financing the Blue Stream gas pipeline construction project and the Sakhalin II project.

In December 2016, Gazprom and JBIC signed the Memorandum of Understanding outlining the basic principles of cooperation in securing financing for Gazprom's projects with the involvement of Japanese companies. In September 2017, the two companies inked the Memorandum of Understanding spelling out a number of provisions outlined in the Memorandum signed in December 2016.