JOGMEC, which supports Japan's petroleum, metal, and mineral industries, has agreed to acquire a stake of 10% in the Arctic LNG 2 project in Russia, from Novatek for $3bn. “Japan has 50 years of experience with importing LNG and is one of the largest LNG consuming countries. Moreover, Japanese companies have extensive experience in implementing LNG projects as well as marketing LNG around the world. The entry of Japanese partners into Arctic LNG 2 will contribute to its successful implementation,” Leonid Mikhelson, Novatek, Management Board Chairman.