Economy Minister Comments On Importance Of Product-Sharing Agreement For Development Of Far East

The system of the use of mineral resources based on the Product-Sharing Agreement is the only way to set the economy of the Far East of Russia in motion, Russian Economy Minister German Gref announced at a meeting with journalists in the Sakhalin region today. In addition, this agreement will allow for the usage of a more efficient processing of mineral resources on the Sakhalin Island. The minister stressed that $2 billion will be allocated within the framework of the Sakhalin-2 project for the construction of a liquid gas processing factory. Large Russian companies are expected to participate in this project.