Energy Firms Reach Accords

Big players in the energy markets have been reaching deals this month.Both Royal Dutch Shell and Gazprom,the Russian natural gas titan,have signed on to buy about a million tons each of the Sakhalin-2 project's Liquefied Natural Gas.Sakhalin-2 is located in the Russian Far East.According to Gazprom,the contracts run from 2009 to 2028.At the same time,Gazprom will deliver another million tons of gas to Shell through pipelines to Europe,in exchange for access to Shell's Mexico re-gasification terminal at Costa Azul.This contract also runs for 20 years.