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The Moscow Times: Shell Damage Charges

Tuesday, November 14, 2006

Shell’s Sakhalin-2 “consciously ignored” environmental damage at the $22 billion oil and gas project, the Natural Resources Ministry said Monday.

Countermeasures now proposed by project operator Sakhalin Energy do not measure up to the scale of the damage, the ministry said in a statement Monday. (Bloomberg)

Audit Disputes Shell Costs

Zarubezhneft has audited the cost estimate of the Shell-led Sakhalin-2 project and found it to be $2.5 billion too high, Vedomosti reported Monday.

The government has disputed the Shell figures since the firm doubled its estimate for the second phase of the project from $10 billion to $20 billion. That would put the total cost of the Sakhalin venture at $22 billion. (Reuters)

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