RusEnergy

MOSCOW, February 18, (RIA Novosti) - Sakhalin Energy announced the signing of a contract with the Tokyo Gas company. This document stipulates annual sales of 1.1 million tons of liquefied natural gas to Japan over a 24-year period. According to the Sakhalin Energy press release received by RIA Novosti, the signing of this contract completely formalizes the relevant gas-sale transaction. Tokyo Gas became the first main client to assume long-term commitments as regards the purchase of Sakhalin liquefied natural gas. This contract, which completely formalizes all gas-sale terms and provisions, was inked after the signing of all the main gas-contract terms with Tokyo Gas in May 2003. This contract further enhances Sakhalin island's positions as a strategic natural-gas supplier to the Japanese market. Moreover, it confirms the fact that the Asia-Pacific region has turned into yet another major gas-sale market. The contract was signed by Sakhalin Energy managing director Ian Craig and Tokyo Gas president Norio Ichino. Tokyo Gas became our first long-term buyer, after signing all the main gas-contract terms in 2003, Craig noted. I am extremely happy to say that our close-knit cooperation has been crowned with the signing of the final contract today, Craig added. We are looking forward to the day when Sakhalin island and the Sakhalin II project begins to supply the first Russian-gas batches to Japan in November 2007, Craig went on to say. For his own part, Tokyo Gas president Norio Ichino noted that his company perceived the Sakhalin II project as a strategically important gas source. We will manage to diversify our liquefied natural-gas imports with the help of Sakhalin's liquefied gas, also contributing to the development of solid and stable relations between Russia and Japan, Ichino noted. We plan to cooperate with the Sakhalin Energy company for many years; and we are happy to know that we became its first main client, Ichino stressed in conclusion.