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BLOOMBERG: Shell Sakhalin Project Cost Soars, Deliveries Late

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

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Royal Dutch/Shell says Sakhalin II Phase 2 costs could be about $20 billion US dollars

AFX Europe (Focus): Royal Dutch/Shell says Sakhalin II Phase 2 costs could be about $20 billion US dollars

Thursday July 14, 2005

AMSTERDAM (AFX) – The Royal Dutch/Shell Group said investment costs for the Sakhalin II phase 2 project are provisionally anticipated to be “of the order of 20 bln usd.”

This would cover all planned development activity, including drilling activity through to 2014, with liquefied natural gas (LNG) deliveries starting in the summer of 2008, the company added.

Sakhalin Energy Investment Co (SEIC), a venture between Royal Dutch/Shell Group, Mitsui and Co and Mitsubishi Corp, runs the Sakhalin II project. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

The Motley Fool: Playing the Russian Shell Game

The Motley Fool: Playing the Russian Shell Game

“It’s better for a foreign investor to stay on the good side of the Russian government. Even if you’re within your rights in turning down a “deal,” being greedy about hanging on to too good of a thing can get you YUKOSed if you’re not careful.”

Posted Saturday 9 July 2005

By Rich Smith

Investors weren’t quite sure what to make of yesterday’s news involving Russia’s Gazprom and partner Royal Dutch (NYSE: RD)/Shell (NYSE: SC). As reported on CNNMoney, Royal Dutch/Shell has cashed in nearly half of its interest in the Sakhalin-2 liquefied natural gas project (located near the island of the same name) in exchange for a 50% stake in the lower stretch of a Siberian gas field known as Zapolyarnoye.

On hearing the news, investors sold off the shares of both Royal Dutch and Shell by about 1% apiece. In contrast, Gazprom’s shares, which trade over the counter, were bid up more than 4%. The negative, though muted, reaction to the news on the part of investors in the foreign oil companies is understandable. After all, Sakhalin-2 has progressed nicely since beginning production in 1999. It’s a proven find, the world’s largest liquefied natural gas (LNG) project, and likely to turn into an all-around winner for its participants (which in addition to the companies named include nearby Japan’s Mitsubishi and Mitsui (Nasdaq: MITSY)). In contrast, it’s not yet known how well the “Lower Zapo” field project will pan out. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Forbes: Royal Dutch/Shell, Gazprom agree asset swap

Forbes: Royal Dutch/Shell, Gazprom agree asset swap

“Royal Dutch/Shell Group said it has signed a memorandum of understanding with Russian group Gazprom regarding the swap of certain assets in Russia.”

Thursday 7 July 2005

AMSTERDAM (AFX) – Royal Dutch/Shell Group said it has signed a memorandum of understanding with Russian group Gazprom regarding the swap of certain assets in Russia.

Under the deal, Gazprom would acquire up to a 25 pct stake plus one share in the Sakhalin-II liquid natural gas venture offshore east Russia. Shell owns 55 pct of Sakhalin-II, while Japan’s Mitsui & Co Ltd and Mitsubishi Corp own the remaining 25 pct and 20 pct.

Shell would acquire a 50 pct stake in Gazprom’s Zapolyarnoye Neocomian hydrocarbon field in West Siberia. Shell is already active in the region with its Salym project. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.