ANCHORAGE (AP) -- Alaska will receive nearly $750,000 in federal money to help Sakhalin make the transition to a free market economy, Gov. Tony Knowles said Wednesday.
The two-year grant from the U.S. Agency for International Development will be administered by the Alaska Division of International Trade and Market Development, which also will oversee the work.
''This is a real endorsement of the role Alaska has been playing and continues to play in Sakhalin and the Russian Far East,'' Knowles said.
The money is an extension of a previous grant. That grant for more than $405,000 went to the Alaska Sakhalin Working Group for projects in development, finance, training programs and technical assistance on Sakhalin.
Numerous Alaska companies are pursuing oil and gas development on Sakhalin.
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