OREANDA-NEWS. Sumitomo Corporation announced today that Sumitomo has entered into Memorandum of Understanding with GAIL (India) Limited to construct global cooperation with respect to natural gas and liquefied natural gas (hereinafter referred to as "LNG") business.

Sumitomo plans to liquefy natural gas and export LNG from the Cove Point LNG terminal in Maryland, U.S.. (hereinafter referred to as "Project") GAIL also participates in the Project and each company will evenly off take LNG from the terminal through its US subsidiaries.

Sumitomo continues to contribute to energy securities for Japan and for Asia, through natural gas and LNG businesses.