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Archive for April 13th, 2007

Sakhalin-2 Deal May Be Close

Shell and Gazprom are due to meet with officials from the Industry and Energy Ministry on Monday in an effort to close a deal on the state-controlled gas giant's entry into Sakhalin-2.
"It is premature to say it is set, but everything is in the final stages," a source close to Gazprom said Thursday.
Three sources involved [...]

Friday, April 13th, 2007

Russia annuls Sakhalin II contract with PricewaterhouseCoopers

Russia has annulled a contract with PricewaterhouseCoopers, auditor of the Sakhalin II hydrocarbon project in the Far East for 10 years, and selected a new auditor, the Industry and Energy Ministry said Thursday.
The ministry said the company's assessment of spending under the production-sharing agreement was unsatisfactory and Russian authorities had selected a Russian auditor, FinExpertiza, [...]

Friday, April 13th, 2007

Sakhalin I, II operators post $857mln, $794mln earnings

Large oil and gas projects on Sakhalin I and Sakhalin II off Russia's Pacific coast last year brought in $857 million and $794.6 million, respectively, the Industry and Energy Ministry said Thursday.
Oil output at Sakhalin I, operated by Exxon Neftegas Limited, a subsidiary of U.S. oil major Exxon, under a product-sharing agreement with the Russian [...]

Friday, April 13th, 2007

TIME: Russia’s Natural Gas Mogul Speaks

Russia's Gazprom is a giant by every measure. The state-run corporation is the world's second large energy company, controlling 26.6% of global natural gas reserves, producing one fifth of the world's natural gas and supplying a quarter of what Europe consumes. Gazprom also controls 10.2 billion barrels of crude oil reserves. Critics see Gazprom as [...]

Friday, April 13th, 2007

Sakhalin II PSA terms infringe on Russia’s interests

Production-sharing agreements (PSA) signed under the Sakhalin II oil and gas project off Russia's Pacific Coast ensure foreign investors' maximum protection and infringe on the country's interests, a Russian senator said Thursday.
The vast Sakhalin projects in Russia's Far East were launched under production-sharing terms in the early 1990s when the country needed large-scale investment and [...]

Friday, April 13th, 2007

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