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Pipelines and welding risks for Shell: Kashagan and Prelude

Screen Shot 2014-02-12 at 13.18.45…customers of certain Far Eastern shipyards have found that in spite of vessels being delivered with all of the necessary certification, unsurveyed welds have not always been up to the standards of the specific “randomly selected” welds on which the certification had been based. This may have interesting implications for the Prelude vessel…. Since Shell does not seem to be able to ensure that the welds on their pipelines in Kashagan were properly executed, all of which should have been inspected, are they any more likely to be sure of the welds on Prelude?

From an oil industry expert

Mitsui paid $1.1 bn, and Anardarko perhaps $2.66bn to settle their liabilities in respect of Macondo.
 
Mitsui and Anadarko shared responsibility with BP because they were fully appraised of what was going on, and gave their approval to the Macondo operations. Shell is in the same position in Kashagan. It is rather naïve to compare Shell’s role as a partner in Kashagan with that of a shareholder in a public company.
 
In order for partners to give approval they require adequate information, to which they have ready access.
 
See this Wall Street Journal article for more information.
 
On another related subject, customers of certain Far Eastern shipyards have found that in spite of vessels being delivered with all of the necessary certification, unsurveyed welds have not always been up to the standards of the specific “randomly selected” welds on which the certification had been based. This may have interesting implications for the Prelude vessel…. Since Shell does not seem to be able to ensure that the welds on their pipelines in Kashagan were properly executed, all of which should have been inspected, are they any more likely to be sure of the welds on Prelude? read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

How Chris Finlayson bungled the Mother of all Projects: Sakhalin II

Chris Finlayson representing Shell and Alexander Medvedev, Gazprom’s Vice Chairman

By John Donovan

Chris Finlayson, the newly appointed Chief Executive of BG Group, held a leadership position in Shell’s Sakhalin II project in Russia from September 2005 to September 2009. The venture was described as “the Mother of all Projects” by the Financial Times.

We have already published an article about his involvement in the Royal Dutch Shell reserves scandal, providing evidence – in the form of authentic Shell internal documents – supporting my conclusion that he was either part of the cover-up, or negligent in his fiduciary duties as a senior Shell executive to protect the interests of investors. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell Sakhalin Project Cost Soars, Deliveries Late

FROM OUR JULY 2005 SHELL NEWS ARCHIVE…

BLOOMBERG: Shell Sakhalin Project Cost Soars, Deliveries Late

“Royal Dutch/Shell Group’s oil and gas project in Russia’s Far East may cost $20 billion, 67 percent more than originally planned…”

Thursday 14 July 2005

July 14 (Bloomberg) — Royal Dutch/Shell Group’s oil and gas project in Russia’s Far East may cost $20 billion, 67 percent more than originally planned, because of soaring metal prices and contractor fees and a declining U.S. dollar.

Deliveries of liquefied natural gas are now expected to start in the summer of 2008, the company said in a statement today, some eight months behind schedule. The project at Sakhalin island is the largest foreign direct investment anywhere in Russia. Shell shares pared gains in London after the statement. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Mitsui in talks with Gazprom to expand tie-up

Mitsui, fellow Japanese trading firm Mitsubishi Corp and Royal Dutch Shell are Gazprom's partners at the Sakhalin-2 project, which recently shipped Russia's first liquefied natural gas to Japan.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Gazprom to Open First LNG Plant

Gazprom bought control of the $22 billion project after a prolonged crisis that forced Royal Dutch Shell, the project's former leader, and its partners to reduce their holdings. Analysts had expected that the battle would lead to delays. Shell is now a minority shareholder along with Japan's Mitsubishi and Mitsui.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Sakhalin II operator begins oil exports via new terminal

YUZHNO-SAKHALINSK, December 12 (RIA Novosti) - Sakhalin Energy launched year-round oil export deliveries on Friday via a new oil terminal as part of the Sakhalin II oil and gas project off Russia's Pacific Coast, the company said in a statement.

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Sakhalin II Corruption Allegations first reported on RoyalDutchShellPlc.com published in House of Commons Report

Corruption Allegations — Allegations have been made by a whistleblower of inappropriate relationships between SEIC management and its contractors, in particular Starstroi and its subcontractor SU4. (22)

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Russia – Tough Investment Environment

This article relates the saga of the Sakhalin II project, one of the earliest of the Russian production sharing agreements.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Gazprom, Shell Receive $5.3 Billion Loan for Sakhalin (Update1)

Sakhalin Energy Investment Co., the project operator, received $3.7 billion from Japan Bank for International Cooperation, the Japanese government's main overseas lender, and $1.6 billion from other commercial banks, the Yuzhno-Sakhalinsk, Russia-based company said today in an e-mailed statement.

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Russia’s Sakhalin-2 gets $5.3 bln project finance

MOSCOW, June 16 (Reuters) - Russia's Sakhalin-2 oil and gas group has obtained $5.3 billion in financing from the Japan Bank for International Cooperation (JBIC) and a consortium of international commercial banks, the group said on Monday.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Russian plans for Sakhalin-2 gas a complete surprise for Shell

Gazprom Deputy CEO Alexander Ananenkov noted that Sakhalin-3’s gas could be not enough to satisfy the region’s needs, in which case gas from Sakhalin-2 could go to the Sakhalin-Khabarovsk-Vladivostok pipeline instead of being exported. This proposal was a complete surprise for Maxim Shub, who represents Shell in Russia.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Sakhalin-2 loan secured; year-round flow to begin

The Japan Bank for International Cooperation (JBIC) and four private-sector banks are finalizing plans to provide a $5.3 billion loan for the Sakhalin-2 oil and natural gas development project.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Japan banks set to extend loans to Sakhalin-2 project

TOKYO, June 3 (Reuters) - The state-run Japan Bank for International Cooperation and four private banks are in final talks to co-finance loans to back the Sakhalin-2 liquefied natural gas project, the JBIC said on Tuesday.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Rosneft, Gazprom agree on splitting offshore

Gazprom is developing the huge Shtokman gas field in the Barents Sea and controls the Sakhalin-2 project offshore the Pacific island of the same name.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

THE WALL STREET JOURNAL: Shell’s Costs Soar For Russia Project

THE WALL STREET JOURNAL: Shell’s Costs Soar For Russia Project

“In a potentially big setback to its turnaround attempt, Royal Dutch/Shell Group disclosed a $10 billion cost overrun and delays at an important Russian energy project…”: “The Sakhalin delay is particularly bad news for Shell. The company last year was rocked by a scandal after it emerged that it had overstated its reserves of oil and natural gas following years of subpar performance at finding new resources”

Friday 15 July 2005

Price Tag of Sakhalin II

May Double to $20 Billion;

Half-Year Delay Expected

By BHUSHAN BAHREE and BENOÎT FAUCON

Staff Reporters of THE WALL STREET JOURNAL

July 15, 2005; Page B2

In a potentially big setback to its turnaround attempt, Royal Dutch/Shell Group disclosed a $10 billion cost overrun and delays at an important Russian energy project, becoming the latest victim of soaring development costs for the oil industry’s increasingly ambitious projects.

Shell said costs in the second phase of the massive Sakhalin II natural-gas project, which it is spearheading, may double to $20 billion, and it expects the project to be delayed by half a year. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

THE TIMES: Shell forced to admit Russian costs have doubled

THE TIMES: Shell forced to admit Russian costs have doubled

“The doubling of costs and an anticipated half-year delay to the construction schedule is a blow to Shell’s reputation as a project manager and it will lead to further embarrassment with Shell’s partners, including Gazprom, the Japanese investors Mitsui and Mitsubishi, and the Russian Government.”

Friday 15 July 2005

By Carl Mortished, International Business Editor

SHELL has been forced to admit that the cost of Sakhalin Energy, a vast liquefied natural gas project in Eastern Siberia and a pillar of the company’s future expansion, has ballooned from $10 billion to $20 billion (£11.4 billion).

The doubling of costs and an anticipated half-year delay to the construction schedule is a blow to Shell’s reputation as a project manager and it will lead to further embarrassment with Shell’s partners, including Gazprom, the Japanese investors Mitsui and Mitsubishi, and the Russian Government. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com
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