By Alfred Donovan
Saturday 02 June 2007
I have recently received further extensive information from the source of the article…
Further serious allegations have now been made by the same source.
Some examples: –
1. The deliberate manipulation and fabrication of information supplied to SEIC shareholders i.e. Gazprom, Mitsui and Mitsubishi.
2. The use of coercion against SEIC employees to persuade/force them to agree a timetable for a pipeline completion date of December 2007. The information reveals the importance of the date in question, why it is unlikely to be achieved, and the huge financial potential consequences.
3. The supply of false information to lending institutions to secure project loans.
4. Corrupt practices in the awarding of contracts.
Allegations directly involve Mr David Greer, Deputy Chief Executive of Sakhalin Energy. In this connection, I have also been provided with a copy of an extraordinary recent email allegedly sent by Mr Greer.
While I believe the email to be authentic, I have offered to supply (for verification purposes) a copy to Mr Keith Ruddock, General Counsel for Shell Exploration and Production responsible for legal matters in respect of the Sakhalin-2 mega-project.
The source appears to be following a policy of staged release of insider information and SEIC confidential documents. The picture being painted is of a white elephant project rotten at the core.
It is my intention to publish the allegations and the email subject to a response from Mr Ruddock on Monday. Jeroen van der Veer, Jorma Ollila, Malcolm Brinded, Michiel Brandjes and Richard Wiseman are all in the loop on this correspondence.