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RosBusinessConsulting: Sakhalin-2 audit results to be revealed in mid-December

RBC, 04.12.2006, Moscow 14:44:53.

The final results of the comprehensive audit of the Sakhalin-2 project will be revealed in December 2006, Oleg Mitvol, head of Russia’s Federal Nature Management Supervision Service, told RBC today. The audit was completed on November 27, he elaborated, and the report has been drafted already, with only one component, the interpretation of aerial surveys, still missing which is to be ready by mid-December. Once all is completed, the results would be passed over to the project’s operator, Sakhalin Energy.

Mitvol also added that by mid-December consultations with foreign legal advisors would have been completed about suing Sakhalin Energy in the Stockholm Court over concealing violations of environmental legislation. Earlier, Russia’s Natural Resources Minister Yury Trutnev said the project had violated five articles of the Russian Criminal Code, while Mitvol estimated the loss of profit if the Sakhalin-2 project is terminated at $10bn.

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