We have adopted the phase modulation technique from the digital Syncbit communication system, and developed an analog transmission system which allows to transmit a set of analog channels between standard bent - pipe satellites. This new analog coherent modulation communication system provides excellent receiver sensitivity which in turn allows to keep the optical output power of the transmitter to a minimum. As a result power consumption from the host spacecraft -- a valuable resource -- can be kept to a minimum. The analog communication system design is such, that it uses all the electro-optical building blocks of the digital communication system. Transmitter laser, modulator, booster amplifier and optical receiver frontend are nearly identical for the analog and the digital terminals. The subsystem is contained in two standard electronics module frames and fits into the modular electronics unit of the terminal.