About $700 million will be invested in the Sakhalin-1 project in 2002, Economy Minister German Gref announced at a press conference today. The conference was devoted to results of his trip to the Sakhalin region. $1.4 billion are going to be invested in this project in 2006 and $15 billion in 2015. At the same time, the federal budget will receive $7.5 billion. An agreement on investments into the project was reached during negotiations between the Russian side and the project's manager Exxon Neftegaz, a Russian subsidiary to the US Exxon Mobile. The minister noted that according to the agreement, 75 per cent of contractors in this project will be Russian companies.
An explosion of household gas occurred in a nine-storeyed apartment building in the city of Shakhty, the Rostov region of Russia. The blast destroyed two storeys of the building