By Andrew Osborn in Moscow
Published: 11 November 2006
A Russian official has for the first time raised the possibility that Shell could have its contract to develop what will be the world’s largest offshore oil and gas field annulled.
Oleg Mitvol, the deputy head of government environmental watchdog Rosprirodnadzor, warned Shell that the Kremlin was ready to resort to extreme measures when it came to a dispute with the Anglo-Dutch firm over Sakhalin-2.
Moscow has accused Shell, which has a 55 percent stake in the project, of causing wanton damage to the environment in Russia’s far east in its haste to get the operation up and running by 2008. It has also criticised Shell for allowing set-up costs on Sakhalin-2 to double to at least $20bn, a situation that delays the day when the Russian state gets its first rouble in profit from the venture. Environmental inspectors are conducting an audit of the damage that Sakhalin Energy – the Shell-led consortium – has allegedly caused on the island of Sakhalin. read more
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