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Rosneft in Talks With Japan

Rosneft is in talks with Japan's Marubeni and Mitsui about a role in the oil company's petrochemical project in Nakhodka, Primorye region, the Energy Ministry said following a meeting of the Russian-Japanese working group on oil and gas cooperation, Interfax reported.

"When discussing bilateral relations in the oil sector, [Russia and Japan] welcomed the participation of Mitsui and Marubeni in the selection process for partners to build the first stage of the petrochemical complex in Primorye," the ministry said.

The working group also said it was important to speed up negotiations between Rosneft and the Japanese consortium of Inpex and Mitsui for the joint development of deposits in the Irkutsk region close to the Eastern Siberia-Pacific Ocean pipeline.

The petrochemical complex is expected to be commissioned in December 2016, cost about $5 billion and process some 10 million tons of hydrocarbons per year.

(MT)

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