World's Energy

03-04-2009 -(RBC News) - Sakhalin Energy, a consortium operating the Sakhalin-2 oil and gas project, and Japan's second largest natural gas company Osaka Gas signed another liquefied natural gas (LNG) sale and purchase agreement today. As reported by the consortium's press office, some 200,000 tons of LNG per year will be supplied within a 20-year period under the new deal. As announced earlier, an LNG sale and purchase agreement was already signed with Osaka Gas in 2007. This will be the last agreement on LNG sales signed by Sakhalin Energy as part of its marketing campaign for the output of its two LNG processing lines estimated at 9.6m tons of LNG per year. All of the future LNG output has been contracted for over 20 years to come. Around two thirds of the total production will be shipped to nine customers in Japan, the world's largest LNG consumer. The remainder will be supplied to South Korea and North America.