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Archive for December 7th, 2006

Russian authorities continue to pressure foreign investors

Next year, Sakhalin Energy, operator of the Sakhalin-II oil project, will face serious fines. Russian Natural Resources Minister Yuri Trutnev said the consortium, led by Shell (which is Sakhalin Energy's key shareholder), "violated numerous environmental regulations in a barbarous way."
Analysts, however, said that this is just an attempt to pressure the company into ceding a [...]

Thursday, December 7th, 2006

Shell to meet Russian energy minister on Sakhalin project

Royal Dutch Shell executives will meet next week with Russia's energy minister to try to resolve an ongoing dispute over its Sakhalin-2 oil and gas project, a Russian presidential economic adviser said Thursday.
Led by Shell, the Sakhalin Energy consortium developing Sakhalin-2 has been hit by a steady flow of accusations from Russian officials threatening to [...]

Thursday, December 7th, 2006

Kremlin squeezes Sakhalin-2 owners

The Kremlin's effort to take control of a promising oil and gas venture in Far East Russia has resulted in Moscow pulling vital permits for the venture.
The government, which has been pressuring the Western companies involved in the Sakhalin-2 project to deal in Kremlin-controlled companies like OAO Gazprom, Thursday pulled 12 critical water use permits, [...]

Thursday, December 7th, 2006

Ecological Violations Halt Work At Shell Project In Russia

Work was stopped at Royal Dutch Shell's 20-billion-dollar oil and gas project off Russia's Pacific coast after ecological authorities on Thursday said they had revoked 12 licences for the project.
Violations of water legislation at Sakhalin-2 led to the temporary withdrawal of the licences, all for water use, Russia's Natural Resources Ministry said in a statement.
Startstroi, [...]

Thursday, December 7th, 2006

Future of ‘Sakhalin-2′ to Be Determined in the Near Future

This was announced to journalists by RF Minister of Natural Resources Yuri Trutnev who is visiting Canada right now.
'Complex inspection has been completed,' he said. 'Its conclusions are in line with what we announced earlier. The results of complex inspection indicate that during implementation of 'Sakhalin-2' project the parties committed serious violations of Russian nature [...]

Thursday, December 7th, 2006

Russia hits Shell with Sakhalin licence suspension

Russia has stepped up pressure on Royal Dutch/Shell's Sakhalin-2 venture by saying on Thursday it had suspended some permits in a move that could cause further delays to the $22 billion project.
Russia's resources ministry said in a statement its water resources agency had suspended 12 water-use licences of Sakhalin's top contractor Starstroi, a joint venture [...]

Thursday, December 7th, 2006

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