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akm.ru: Cost of all contracts with Russian contractors under Sakhalin-2 exceed $7.6 bn.

Analytical Information Agency – Moscow, Russia

23/01/2007

The cost of all contracts with Russian contractors under the Sakhalin-2 project exceeded $7.6 bn, the project’s operator Sakhalin Energy says.

Today Sakhalin Energy has announced it has concluded a RUB 230mln contract with Aviadvigatel OJSC on the delivery of two gas-turbine pumping units. The units will become part of Booster Station N 2 which is being built under the Sakhalin-2 project near the village of Gastello (Poronaisky District). The oil-transfer pumps will be used to raise the pressure of oil in the pipeline system, which will ensure the transportation of all liquid hydrocarbons from the Piltun-Astokhskoye and Lunskoye fields to the oil export terminal in the south of Sakhalin.

As it was reported earlier, Gazprom signed a protocol with participants of the Sakhalin-2 project covering the acquisition of 50%+1 share in the project’s company-operator Sakhalin Energy on December 22. The transaction will total $7.45 bn to be paid by Gazprom in cash.

According to the protocol, the share of each foreign participant in the project will decrease 2-fold. Upon the transaction with Gazprom, Shell will hold 27.5% shares in the project, Mitsui – 12.5%, Mitsubishi – 10%.

“AK&M”, 23/01/2007 11:55

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