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Archive for September 20th, 2006

Europe and Japan comment on Shell/Sakhalin-2 setback

Europe's energy commissioner has called for a rapid resolution to the Shell Sakhalin-2 permit setback, while a spokesman from the Japanese government has reportedly voiced his concerns over how possible delays could affect relations between Russia and Japan.
Reacting to the announcement of the cancellation of an environmental permit for the Sakhalin-2 project led by Shell, [...]

Wednesday, September 20th, 2006

Russian Envoy Says Sakhalin-2 Project Will Continue

After the Russian government announced its withdrawal of environmental approval for the Sakhalin-2 liquefied natural gas (LNG) project on Sep. 18, Alexander Losyukov, Russia's ambassador to Tokyo, said on Wednesday that the construction continues as stated on their contract.

The Russian Ambassador mentioned that Sakhalin-2, the world's largest privately funded energy project due for completion in [...]

Wednesday, September 20th, 2006

Sakhalin II Woes May Have Knock-on Effect On Loan-Sources

Royal Dutch Shell PLC's environmental and contractual issues with the Russian government on the Sakhalin II project could trigger a knock-on effect on talks to get a $500 million loan from the European Bank for Reconstruction and Development, or EBRD, people familiar with the matter said.
Approval for the estimated $500 million EBRD loanis itself tied [...]

Wednesday, September 20th, 2006

Showa Shell buys first cargo of Sakhalin-1 oil

Showa Shell Sekiyu KK, the Japanese refining unit of Royal Dutch Shell Plc, bought a cargo of crude oil from Exxon Mobil Corp's $13 billion Sakhalin-1 project in Russia for the first time.

Wednesday, September 20th, 2006

Russia’s cancellation of gas project could hurt Japanese companies

Russia's recent decision to halt a multibillion-dollar petroleum drilling project in the country's Far East could hurt Japanese traders, a credit ratings agency said Wednesday.
Tokyo-based traders Mitsubishi Corp. and Mitsui & Co. have major stakes in the development and the cancellation could damage the companies' credit quality, Standard & Poor's said in a statement.
Russia's withdrawal [...]

Wednesday, September 20th, 2006

Executive lays out Gazprom’s vision for Asia-Pacific region

A top executive of Gazprom, the Russian natural gas monopoly, expounded Wednesday in a speech at an economic forum on his company's sweeping plan for controlling supplies in the Asia-Pacific region - one some analysts say would replicate in Asia a strategy that served the company well in Europe.

Gazprom's deputy director, Aleksandr Ananenkov, spoke just [...]

Wednesday, September 20th, 2006

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