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Archive for October 25th, 2006

Sakhalin Energy: Joint plan to undo Sakhalin II eco-damage

Russia's natural resources minister and the company operating the vast Sakhalin II energy project in the country's Far East agreed Wednesday to draw up a joint action plan to repair the environmental damage it has caused.
Sakhalin Energy CEO Ian Craig, who has admitted that his Shell-controlled company committed grave violations in developing the project, told [...]

Wednesday, October 25th, 2006

Russia to open criminal probe into Shell

Russia's power politics over Royal Dutch Shell's Sakhalin-2 project have ratcheted up a notch.
Natural resources minister Yuri Trutnev today threatened criminal charges as he claimed that Shell's $22bn venture on Sakhalin Island is violating Russia's criminal code. The ministry also warned that damages, potentially amounting to hundreds of millions of dollars, could be levied.
The liquefied [...]

Wednesday, October 25th, 2006

Sakhalin Energy carries on construction in line with schedule

Construction of the second stage of the Sakhalin-2 project launched in 2003 is underway according to the schedule, and over 80 percent of the work has been performed so far, Sakhalin Energy said in a statement circulated after a meeting with Natural Resources Minister Yury Trutnev.
As for the region where violations were revealed and where [...]

Wednesday, October 25th, 2006

Shell-led group says environmental impact of Sakhalin-2 ‘reversible, short-term’

Sakhalin Energy Ltd has assured the ecological impact of the giant Sakhalin-2 gas project is 'short-term and reversible' and all the issues raised by the Russian authorities will be urgently addressed by the Royal Dutch Shell PLC-led consortium.
Sakhalin Energy is 55 pct owned by Shell, while Japan's Mitsubishi Corp and Mitsui & Co hold the [...]

Wednesday, October 25th, 2006

Shell’s Sakhalin-2 May Face Russian Criminal Charges

Royal Dutch Shell Plc's $22 billion Sakhalin-2 venture may face criminal charges and should halt some work, said Natural Resources Minister Yury Trutnev, the highest-ranking Russian official to denounce the project.
The ministry will ask the Prosecutor General's Office to open a criminal investigation within two weeks into environmental violations committed by the operator of the [...]

Wednesday, October 25th, 2006

Russian companies could join Sakhalin-2 if costs not reduced

The Russian Audit Chamber has completed one more check on the Sakhalin-2 project, Audit Chamber head Sergei Stepashin told Interfax on Wednesday.
"The Audit Chamber has summed up the results of the check in the presence of the management of project operator Sakhalin Energy," Stepashin said.
"The Audit Chamber has demanded the accounting for the sharp increase [...]

Wednesday, October 25th, 2006

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