Moscow, 1 July. The project stipulates construction of a steam and gas power plant of 4000 MW capacity in the island of Sakhalin, construction of transformation substations, a ground-based HV-line and an underwater cable HV-line to Hokkaido and Honshu islands.
The Protocol of Cooperation envisages conducting the full feasibility study of the project, holding negotiations with natural gas suppliers and electricity buyers, and developing the financial side of the project.
Based on the analysis of Japanese market, RAO "UES of Russia" and Sumitomo Corporation consider the project economically feasible for its participants and potential investors.
At the meeting of Co-Chairpersons of Russia-Japan Intergovernmental Commission on Economic Issues held in Vladivostok on 29 June 2003, Vice Chairman of the Government of the Russian Federation Viktor Khristenko and Minister of Foreign Relations of Japan Yoriko Kawaguchi highlighted that signing the Protocol and starting the detailed study of the project are the positive examples of cooperation between the companies of Russia and Japan.