The recent rubber-stamping of a US10 billion investment by shareholders in the Russian Far East's Sakhalin II development was followed within days by the announcement of its first gas contract. Sakhalin Energy and Tokyo Gas signed a heads of agreement (HoA) for the supply of up to 1.1 million tonnes per year of LNG. First deliveries are scheduled to start in 2007. The two companies will now continue negotiations to enable a fully termed sale and purchase agreement (SPA) to be signed by 2004.
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