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Regnum.ru: Russian Natural Resources Ministry may halt Sakhalin 2 Project

28 Sep 2006 05:56 GMT

Russian natural resources ministry will halt implementation of Shell Company’s Sakhalin 2 oil and gas Project, if its participants do not guarantee environmental safety of the pipeline, on September 26, the ministry’s head Yuri Trutnev stated. He is quoted by NTV-Channel as saying that the final decision concerning the matter will be made as a result of the check, which is planned to start in the near future and last for a month.

“Even today we may quite exactly say, scaled violation of environmental legislation is taking place during the Sakhalin 2 project implementation,” Yuri Trutnev stated. “We will not prepare documentation by ourselves; it should be done by the Sakhalin Energy Company. If Sakhalin Energy proposes a plan, which will convince that the Sakhalin 2 project realization will not have destructive consequences for the environment, they can expect the project will not be halted,” the minister added. 

As REGNUM informed earlier, Sakhalin 2 is the world major complex oil and gas project; it costs $20 bln. The Sakhalin 2 Project is developed in accordance with the production-sharing agreement (PSA). The Sakhalin Energy Company (55% belong to Royal Dutch Shell, 25% — Mitsui, and 20% — Mitsubishi) is operator of the project.  

11:51 09/27/2006

Permanent news address: www.regnum.ru/english/711485.html

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