The agreements are for a total quantity of 1.4 billion cubic meters (bcm) annually for 20 years, with an option to buyers to increase the total quantity up to 2.9bcm annually.
The option is to be exercised by 31 March 2011 with the exception of one agreement stating that the option is to be exercised by 31 December 2011.
The total value of the five contracts is between $5bn to $10bn. Gas delivery is scheduled to commence between the first and second quarters of 2011.
These agreements are in addition to the earlier signed gas sale agreements by EMG. The total aggregate quantity of contracted gas by EMG is approximately 6bcm annually with a total value of approximately $19bn.
