Royal Dutch Shell Plc  .com Rotating Header Image

The Guardian: EBRD refuses to fund Sakhalin-2 project

Wednesday August 8, 2007
Mark Milner

The European Bank for Reconstruction and Development said yesterday it had “disengaged” from Sakhalin-2, the world’s largest oil and gas export project.

The bank’s plans to lend a reported €300m (£203m) plus had been under review since Gazprom bought a 50% stake in Sakhalin 2 from Shell and its partners, Mitsui and Mitsubishi.

Yesterday the EBRD said it had been unable to meet the October deadline set by the developers to put the financing in place. Gazprom and the EBRD said they would focus on cooperation in other projects, such as promoting sustainable energy.

http://business.guardian.co.uk/story/0,,2143683,00.html

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each blog member is allowed limited comments, as displayed above the comment box.
  • Comments must be limited to the number of words displayed above the comment box.
  • Please limit one comment after any comment posted per post.