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Troubled waters for Sakhalin Energy project

Troubled waters for Sakhalin Energy project

Moscow: Although the offshore oil platform for the Sakhalin Energy project (SEP) in Russia remains unharmed by the earthquake that struck Japan and led both sets of authorities to issue Tsunami warnings, the company remains in legal hot water with Russian environmental agency RosPrirodNadzor (RPN). SEP - which is jointly owned by Shell (55% ), Mitsui (22.5%), and Mitsubishi (22.5%) - has been accused of a number of environmental infractions and may be liable for a US $15bn payout to the Russian Government if found guilty by the international arbitration court in Stockholm.  [15/11/06]

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