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Archive for September 27th, 2006

Oil spill spotted off Sakhalin after Russian ship sinks

The island of Sakhalin off Russia's Pacific coast was at the center of an environmental scare Wednesday after a trawler went down off the coast spewing oil into the sea, emergency services reported.
The Kyuko maru was detained in Russian territorial waters Monday for alleged border, environmental and customs violations. It was registered in the Sakhalin [...]

Wednesday, September 27th, 2006

Moscow is criticized over Sakhalin demands

Royal Dutch Shell and the Japanese government criticized Moscow's threat to halt a $22 billion oil and natural gas project on Wednesday, citing "abnormal" and "one-sided" demands.
But Foreign Minister Sergey Lavrov of Russia defended regulators' actions against the Shell-led liquefied gas project off the far eastern island of Sakhalin, though he said they would not [...]

Wednesday, September 27th, 2006

Sakhalin Energy charters two giant oil tankers

The Sakhalin Energy Company (operator of the Sakhalin-2 project) has chartered on Wednesday two giant tankers of the Primorye Shipping Company to ship the petroleum obtained on the Sakhalin shelf. A corresponding agreement was signed at the international "Sakhalin Oil and Gas--2006" conference, which is currently under way here.
The "Ostrov Sakhalin" and "Gubernator Farkhutdinov" tankers [...]

Wednesday, September 27th, 2006

PSAs Still Shield Oil Cos From Cost Overruns

Production-sharing agreements like those in place at Russia's Sakhalin liquified natural gas project offer higher levels of protection from project cost overruns than royalty and taxation mechanisms, despite hyper-inflation in the oil industry, a report by consultants Wood Mackenzie said Wednesday.
Such contracts may also mean, however, that companies are less exposed to the potential upside [...]

Wednesday, September 27th, 2006

Schooner, detained by coastal guard, sinks in south Sakhalin

Russian Keiko Maru fishing-boat, detained by coastal guard near Kuril Islands on September 25, has sunk in Aniva Bay in the south of Sakhalin, Yuzhno-Sakhalinsk sea rescue coordinating center informed on September 27.
The accident happened at about 01:00 a.m. local time on September 27. The schooner was escorted to Sakhalin port of Korsakov for investigation; [...]

Wednesday, September 27th, 2006

Estimated damages from Sakhalin-2 project announced

The ecological damage from the Sakhalin-2 project may exceed $50bn, Deputy Head of Rosprirodnadzor Oleg Mitvol told journalists commenting on the statement made by the Vice President of Sakhalin Energy Igor Ignatiev that if the project was suspended direct losses would total $10bn.
Mitvol noted that Rosprirodnadzor had launched a complex inspection of the project on [...]

Wednesday, September 27th, 2006

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