Tokyo Gas to sign up for LNG from Russia

Feb 04, 2003 01:00 AM

Tokyo Gas, the top gas supplier in Japan's capital, plans to sign up for LNG from Russia's Far East, advancing Shell Group's $ 8.5 bn plan to produce the fuel.
Tokyo Gas has an intention to buy 1 mm tpy of LNG from fields in Sakhalin province, starting as early as 2007.

Japan’s goal under this deal is to diversify its energy supply and invest as much as $ 30 bn in Sakhalin by groups led by Shell, ExxonMobil and BP. Japan plans to reduce the risk of supply disruptions from the politically unstable Middle East, which supplied more than fourth-fifths of the country's oil last year.
The Sakhalin gas fields, developed by Shell with investments from Mitsui & Co. and Mitsubishi, provide the nearest alternative source of fuel, in the form of cleaner-burning gas, analysts said.

Source: Neftegaz.RU
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