The New Energy Source for the Asia Pacific

• CAVARUSH Sakhalin II Project is on Track (Current Status Highlights) • 6 th season Oil production completed with 11.69 million barrels in 2004 • Phase 2 construction 45% completed • More than 50% LNG capacity sold SAKHAL 2 trains capacity expected to be sold by mid 2005 Two contracts for three LNG ships were signed Financial close expected mid 2005 SHEPTUA ENERGY Sakhalin Energy THE NEW ENERGY SOURCE FOR THE ASIA PACIFIC 72

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