The New Energy Source for the Asia Pacific

CAVARUSH SAKHAL CHEPENS ENERGY + Declaration of Development Date Announced - May 15, 2003 IN ENER 2003 5 15 . • . . . Sakhalin Energy and shareholders took Final Investment Decision on $10 billion+ Phase 2 project Declared Development Date for the Lunskoye Field First sale of Russian gas into the Asia-Pacific markets with Japanese customers Russian Government provided assurance on long term. PA/Lunskoye PSA license security Launched Phase 2 Project Financing Awarded major Phase 2 contracts Sakhalin Energy THE NEW ENERGY SOURCE FOR THE ASIA PACIFIC 19

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