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Archive for December, 2006

Gazprom’s Sakhalin-2 buy may let EBRD off the hook

Russian gas giant Gazprom's decision to take a majority stake in the Royal Dutch Shell-led Sakhalin-2 project may save the European Bank for Reconstruction and Development (EBRD) from having to approve its most controversial loan application ever.
Analysts and industry executives said the fact Gazprom is government-controlled means the EBRD will likely be precluded by its [...]

Sunday, December 31st, 2006

EBRD set to deny loan to Sakhalin

Europe's top development bank is set to walk away from the Sakhalin-2 energy project in what will be seen as an embarrassing snub to the renationalisation policy of Vladimir Putin, the Russian president.
The London-based European Bank for Reconstruction & Development - which was established to encourage free markets in the former Soviet bloc - fears [...]

Sunday, December 31st, 2006

Shell May Cut Reserves at Least 4 Percent on Sakhalin

Royal Dutch Shell Plc, Europe's largest oil company by market value, will cut its proven oil and gas reserves by more than 4 percent when it gives up half its stake in Russia's Sakhalin-2 venture, analysts said.
The equity transfer to state-run Russian energy company OAO Gazprom is expected to be completed by the end of [...]

Saturday, December 30th, 2006

Cyclone leaving Sakhalin, air traffic resumed

The powerful snowy cyclone formed over Sakhalin two days ago is slowly leaving the island for Kamchatka and the Pacific Ocean.
Yuzhno-Sakhalinsk's airport has resumed working. Planes land and take off there again.
More than 20 flights from Yuzhno-Sakhalinsk to various Russian cities and abroad were delayed during the two days. Two passenger airliners from Moscow on [...]

Friday, December 29th, 2006

Shell and Sakhalin-2 partners to absorb extra $3.6bn

Royal Dutch Shell and its Japanese partners in the Sakhalin-2 gas project will be forced to swallow a third of the $10 billion (?5.1 billion) cost overrun suffered by the giant liquefied natural gas facility in eastern Siberia, according to reports from Moscow.
A confidential agreement between the Russian Government, Shell, Mitsui and Mitsubishi has settled [...]

Friday, December 29th, 2006

Sea storm subdues, snowfall continues on Sakhalin

The sea storm has subdued in the Tatar Strait near Sakhalin on Friday, allowing to re-start the ferry link to the mainland, however heavy snowfall continues and keeps the local airport closed for a third day.
Weathermen said the cyclone, which brought 1-2 meters of snow, is likely to leave Sakhalin and Kurile Islands by Friday [...]

Friday, December 29th, 2006

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