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Archive for April, 2007

Minister hopes Sakhalin II problems will be resolved

Russian Natural Resource Minister Yury Trutnev hopes that a significant number of Sakhalin II energy problems will be resolved. "We will calculate the damages, submit them and we will hope that a significant number of the problems will be resolved. For the remainder compensation will be paid to the state. It is good that we [...]

Monday, April 30th, 2007

Sakhalin II second stage cost set at $19.4 bln

The Russian Industry and Energy Ministry and participants in the Sakhalin II project have coordinated all documents to implement the project with a Russian investor and approved the costs of its second stage at $19.4 billion until 2014, the ministry said in a statement.
"The observer council has approved the changes in estimated cost account for [...]

Saturday, April 28th, 2007

Body of 10-year-old boy missing in Sakhalin in early April found

The body of the 10-year-old boy Yevgeny Petrov that went missing in Sakhalin in early April has been found, the Prosecutor's Office of the Sakhalin region told Itar-Tass on Saturday.
According to preliminary information, the body was found during the examination of underground pipelines within the city limits.

Saturday, April 28th, 2007

Gazprom seeks exclusive purchase of Sakhalin I gas output

Gazprom is looking to buy and export 100% of gas output in the Sakhalin I project in Russia's Far East, a deputy board chairman of the Russian energy giant said Saturday.
The project, which is operated under a production-sharing agreement (PSA) by Exxon Neftegas Limited, a subsidiary of U.S. oil major Exxon, is located on Sakhalin [...]

Saturday, April 28th, 2007

Shell to pay Russia ?50m dividend for Sakhalin

Shell is being forced to pay the Russian Government an annual dividend of about $100 million (?50 million) to keep its stake in the lucrative Sakhalin II offshore project.
The Anglo-Dutch group and its partners admitted yesterday they had agreed to "minor adjustments to the fiscal terms" of the project. The change was pushed through last [...]

Friday, April 27th, 2007

ABN Amro slammed for $1 billion Sakhalin deal

ABN Amro has reportedly provided $1 billion to Gazprom to finance its purchase of a controlling share in the controversial oil and gas project Sakhalin II.
Sakhalin II is located on the island of Sakhalin, off the pacific coast of Russia. Environmental campaigners have long opposed its development, because it is sited in the only known [...]

Friday, April 27th, 2007

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