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Thursday, November 16, 2006

Russia Threatens Sakhalin Energy with $15Bln International Lawsuit

14.11.2006 - MosNews - The Russian government is preparing a complaint with American lawyers to take Sakhalin Energy, the operator of Sakhalin-2 oil and gas project led by Royal Dutch/Shell, to the international arbitration court in Stockholm. “We are setting out our position with American lawyers, and I think that in two weeks we will have a document from New York which we will send to the Russian government”, said Oleg Mitvol, deputy head of the Russian environmental watchdog, Rosprirodnadzor. Mitvol was quoted by the AFX as saying that the Russian government could demand $15 billion in compensation from the Sakhalin Energy consortium, which comprises Shell, Mitsui & Co and Mitsubishi Corp. If the government decides to launch proceedings for “dissimulation of important information” leading to “environmental damages”, this will be done next year, Mitvol told journalists after a meeting with the U.S. Chamber of Commerce in Moscow.

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