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Sakhalin Hopes S.Korea to Invest $2.1 bn in Deals

Source: Reuters 4/14/2010, Location: Asia

Russia's Sakhalin government said the energy and resource rich state hopes to attract $2.1 billion of investments from South Korean firms for its $4.8 billion of 15 energy, natural resource and construction projects.

The projects include 7 new oil and gas fields, construction of the Sakhalin west coast island energy complex and a cement plant-building project, Sakhalin governor Alexander Khoroshavin said in a statement. A two-day bilateral investment seminar was held in Seoul.

South Korea, the world's fifth-largest crude oil importer and second-largest liquefied natural gas buyer after Japan, has been importing large volumes of oil and marine products through the Sakhalin-2 project that started the supply of LNG to South Korea since March last year, the statement said.

Russia has shipped more than 5.5 million tonnes of LNG to Asian markets, including South Korea, since launching its first LNG plant on the Pacific island of Sakhalin under the Sakhalin-2 project almost one year ago, Sakhalin Energy, majority owned by state-run gas giant Gazprom, said last January.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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