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Archive for October 20th, 2006

Sakhalin II expert review to be ready by December 2006

A new expert review that envisions increased spending on the giant Sakhalin II project will be ready by December, a deputy Russian industry and energy minister said Friday.
"The term for the state expert review to be implemented is the fourth quarter of 2006," Andrei Dementyev told journalists. "I think it will reach us in early [...]

Friday, October 20th, 2006

Large Oil and Gas Project Under Pressure in Russia

A giant energy project on Russia's remote Sakhalin Island has recently come under scrutiny because of environmental concerns. A foreign run consortium has long been building parallel gas and oil pipelines on the Pacific coast island, but government critics say the Kremlin may be trying to assert control over the multi-billion dollar project.
A large boat [...]

Friday, October 20th, 2006

Russian tax claim opens second front in Shell row

Russia is investigating tax payments of a venture half-owned by Royal Dutch Shell, the firm said on Friday, adding to the pressure the oil major is already facing in its flagship Russian project Sakhalin-2.
Shell's Salym Petroleum Development (SPD) joint venture with Sibir Energy said it had received a back-tax claim which it was disputing.
"Tax authorities [...]

Friday, October 20th, 2006

Sakhalin II project becoming less beneficial for Russia

The giant Sakhalin II oil and gas project on Russia's largest Far East island is becoming less effective for Russia, and raises doubt over product sharing agreements in the country, a member of parliament's upper house said Friday.
Devised in the 1990s when oil prices were much lower, production sharing agreements such as Sakhalin II offer [...]

Friday, October 20th, 2006

Minister: Sakhalin-2 will be stopped if it caused “irreparable damage”

Russian authorities will stop Sakhalin Energy's Sakhalin-2 oil and gas project if there is evidence that the project caused "irreparable damage" to the environment, Natural Resources Minister Yury Trutnev told reporters Friday.
Deputy Industry and Energy Minister Andrei Dementyev said Friday that the government would provide compensation for all of Sakhalin Energy's costs, excluding possible fines [...]

Friday, October 20th, 2006

Shell’s Sakhalin Energy pledges to fix project violations

Sakhalin Energy, the operator of the Sakhalin II oil and gas project on Russia's largest Far East island, said in a letter to the Natural Resources Ministry that it would submit a detailed plan next week on rectifying environmental violations.
The company, majority owned by oil major Royal Dutch Shell, has come under attack from Russia's [...]

Friday, October 20th, 2006

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