The Japanese and Russian ministers in charge of bilateral economic cooperation have agreed to promote their cause by having Japanese firms join a major natural gas project in Russia’s Arctic region.

Hiroshige Seko, the Minister in charge of Economic Cooperation with Russia, met with his counterpart, Economic Development Minister Maxim Oreshkin, in Tokyo on Monday.

The talks were arranged in preparation for the upcoming summit between Prime Minister Shinzo Abe and President Vladimir Putin in Osaka, western Japan, on the sidelines of the G20 summit later this month.

At the talks, Seko told Oreshkin that Japanese firms are aiming to acquire a 10-percent stake in the ongoing liquefied natural gas project, which is expected to be worth about 28 billion dollars.

He also said that Japanese firms, including major trading house Mitsui & Company, are in the final stages of preparation to take part.

Oreshkin reportedly expressed the hope that Japanese firms will join the project.

They agreed that the two sides will continue to work toward realizing joint economic development, and will see to it that the natural gas project is included as an accomplishment at the upcoming summit.