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Archive for April 19th, 2007

Russia to Build Underwater Tunnel to Alaska

Official from the Russian Economy Ministry told reporters on Wednesday, April 18, that Russia plans to build the world's longest tunnel, a transport and pipeline link under the Bering Strait to Alaska, as part of a $65 billion project to supply the U.S. with oil, natural gas and electricity from Siberia.
The project, which Russia is [...]

Thursday, April 19th, 2007

Gazprom Takes Formal Control of Sakhalin-2, Russia Approves Phase 2 Budget

On Wednesday, April 18, Russia's state-run gas monopoly Gazprom has taken formal control of Sakhalin-2 oil and gas project in the Far East. As MosNews reported, the gas giant bought a majority stake in the project from Royal Dutch/Shell, Mitsui and Mitsubishi in December 2006 for $7.45 billion. The partners agreed to part with half [...]

Thursday, April 19th, 2007

Thin smile from Shell as it sells Sakhalin stake

Shell and its partners put a brave face on a final deal signed yesterday to hand over a 50% stake in Sakhalin-2 - the world's largest oil and gas export project - to Russia's state-owned gas company Gazprom. They said the "uncertainty is over" and the deal should offer "growth opportunities".
The $7.5bn (?3.7bn) sale coincided [...]

Thursday, April 19th, 2007

Gazprom Lands in Sakhalin-2

Nearly two-year effort of Russia's gas monopoly to grab control over Sakhalin-2 has ended in success. Gazprom, Shell, Mitsui and Mitsubishi have inked a purchase and sale agreement for stocks of Sakhalin Energy. The deal was expected to be clinched Monday but was delayed by the Russian bureaucrats opposing extending the project budget to the [...]

Thursday, April 19th, 2007

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