Sumitomo signs co-operation agreement with Sakha republic

Aug 05, 1999 02:00 AM

Japan's Sumitomo Corp has signed an agreement on co-operation with representatives of the Russian republic of Sakha.
The deal was signed after a delegation of Sumitomo representatives -- led by Toshiji Maeda, the head of the company's CIS market department and main planning and co-ordination department -- visited various industrial sites in Sakha, formerly known as Yakutia.
The accord provides for the two parties to cooperate on a number of fronts, including the oil and gas sector. Sumitomo has agreed to assist in the overall development of Sakha's oil and gas industry, Russian media sources said. It will participate in priority investment projects such as the efforts to build a third gas line from Mastakh to Yakutsk.

Source: NewsBase
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