Pacific Russia Information (PRI) Group: Sakhalin Oil and Gas News: Week of November 27, 2005
SAKHALIN-2 HAS CONTRACTS FOR FULL LNG SUPPLY
Sakh.com.news - November 22, 2005
RF President Vladimir Putin announced at a press conference that based on the results from negotiations with Japan’s Prime Minister, contracts have been signed for the total volume of Sakhalin-2 project’s LNG. According to the RF President, the supply of Sakhalin energy resources within Sakhalin-1 and Sakhalin-2 projects already is underway. In particular, LNG supply from the Sakhalin-2 project is headed for Japan’s market and one-third of the LNG produced is to be supplied by 2008. The total volume of LNG is already contracted. Putin emphasized that important areas for bilateral cooperation include the electric power industry, atomic energy industry, communications, and joint space exploration.
According to the RF President, a practical mechanism has been launched and in order to get the desired results, it is necessary to support it.
RIA Novosti
JAPAN PRIME MINISTER, PUTIN AGREE ON PLAN FOR SIBERIAN OIL: Nikkei? November 21, 2005
Prime Minister Koizumi and Russian President Putin on Monday agreed to separate into two stages construction of pipelines designed to deliver Russian crude oil produced in eastern Siberia to the Pacific region, officials said. In the meantime, Putin said that Japanese-Russian economic relations have developed favorably and expressed hope that they will further improve.
To boost Japanese investment in Russia, a joint committee comprising Japanese and Russian companies is expected to hold its first meeting on Monday, sources said. Sponsored by the Economy, Trade and Industry Ministry, the panel was recently set up with member companies that include IHI (Ishikawajima Harima Heavy Industries Co.), Shiseido Co., and Sumitomo Corp. Representatives of Russian firms are visiting Japan at the same time as Russian President Putin's visit here.
With Russia becoming a more attractive trading partner and investment destination, the joint panel is intended to provide both Japanese and Russian companies with a forum aimed at creating new business opportunities to exchange opinions such as how to improve the business environment in Russia. Japanese and Russian company executives will attend the panel’s first meeting.
According to sources, Japanese firms can take advantage of the meeting to tell their Russian counterparts about their concerns in launching businesses in Russia, while Russian firms can seek to boost investment in their country. About 100 representatives of Russian companies, ranging from the communications, energy, to financial sectors, arrived in Japan on Sunday accompanying Putin.
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