Monday September 4th, 2006 / 18h39
LONDON -(Dow Jones)- A decision by the European Bank for Reconstruction and Development to lend money to the Royal Dutch Shell PLC (RDSB.LN)-led Sakhalin II project won’t take place before October, an EBRD spokesman said Monday.
The bank has previously set a deadline for September but the spokesman said the date was for a recommendation to the board, which he still expects in September.
The board would still then have 30 days to make a decision on the loan for the oil and gas venture on Russia’s Pacific coast, a debt which people involved in the talks say would be in the region of $500 million.