Friday, April 27, 2007. Issue 3646. Page 5.
Bloomberg
LONDON — Shell and its Japanese partners will make annual payments to the government as part of an agreement that brought Gazprom into their Sakhalin-2 oil and natural gas project, a Shell spokesman said Thursday.
“There have been minor adjustments to fiscal terms while keeping the [production sharing agreement] intact,” Shell spokesman Adam Newton said in London.
The changes “give the Russian government more access to revenues when oil and gas prices are higher and take the Russian government’s view on cost-recovery allowances.”