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September 2004
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"What's New!" is
a periodic update to keep you informed of the latest uploads onto
the ECA-Watch website. What's New! features a wide range of materials
related to the reform of Export Credit Agencies (ECAs) including
NGO publications and releases, news articles, commentaries and announcements
about the policies and practices of ECAs and ECA-financed projects
world-wide. If you would like to be added onto the recipients list
for "What's New!", simply sign up from the website, www.eca-watch.org
today!
Questions?
Email info@eca-watch.org
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Items:
1)
Shell's Oil Spill on Sakhalin Island
2)
Firms May be Barred from Future Business in Nigeria
3)
US
Dept. of Energy, OPIC Form Partnership for Environmentally Sound
Economic Development
4)
OPIC to
Search for Dabhol Power Plant Sponsor
5)
Bush Government
Sued Over Climate Change
6)
WEED Authors Guide to Investment Guarantees
1) Shell's
Oil Spill on Sakhalin Island
September
9, 2004 – (The Observer ) On September 8, a Shell Oil-contracted
dredging vessel spilled as much as 200 metric tons of heavy
fuel oil and diesel at Russia 's Sakhalin Island. Local
and international conservation groups are responding with outrage,
noting that Shell and the Western banks that may finance the project
have been warned for years about the high risk of spills and gross
inadequacy of the project’s oil spill response plans. The
Sakhalin II project seeks up to $5 billion in public financing from
the Export Credit Agencies of the US, UK, and Japan, and the European
Bank for Reconstruction and Development.
2) Firms
May be Barred from Future Business in Nigeria
September
2, 2004 – (The Guardian) Several firms including Halliburton Energy
Services Company, Technic Snamprogetti, and the Japanese Gas Corporation
face possible exclusion from future business in Nigeria until the
government concludes its investigation of alleged corruption involving
the Bonny Island Liquid Natural Gas plant. The Bonny Island project
has support from the US Export-Import Bank and several European
Export Credit Agencies. Investigations are also underway by the
French, UK and US governments. Read
a recent report of environmental and social problems at Bonny Island.
3)
US
Dept. of Energy, OPIC Form Partnership for Environmentally Sound
Economic Development
September
8, 2004 – ( US Newswire )
The US Energy Secretary and the President
of the Overseas Private Investment Corporation (OPIC) signed a partnership
agreement to promote investment in clean energy in the world’s emerging
markets. Under this agreement, both agencies will work to create
an Efficient Energy and Renewables Program emphasizing innovative
financing and creative partnerships for environmentally-sound economic
growth.
4)
OPIC
to Search for Dabhol Power Plant Sponsor
August
19, 2004 - (The Times of India) The Indian
government has decided to appoint OPIC to
find a new sponsor for the Dabhol Power Company. The government
says it is also taking steps to resolve friction between Indian
lenders and the project's US promoters — GE and Bechtel — over who
has the first right to the proceeds from the sale of the plant.
Read
a 1999 GE press release about the Dabhol plant, “ Enron's flagship
project in India.”
5)
Bush
Government Sued Over Climate Change
August
25, 2004 – (The Dominion, Canada) The Inuit
people from Canada and Alaska have announced intentions to sue the
US government at the Inter-American Commission on Human Rights to
force the US to address the issue of climate change. The government
of the island nation of Tuvalu is also planning a case against the
US and/or Australia at the International Court of Justice in The
Hague . The cities of Oakland, California, and Boulder, Colorado,
in coalition with the Friends of the Earth and Greenpeace, have
already sued two US agencies - the Export-Import Bank and OPIC -
for funding fossil fuel projects.
6)
WEED
Authors Guide to Investment Guarantees
August
30, 2004 – (Source: WEED)
The German nongovernmental organization World Economy, Ecology &
Development (WEED) has produced a 22-page booklet on investment
guarantees. Unlike export credit, investment guarantees merely offer
protection against political risks. This book explains investment
guarantees, from what is insured to the possible consequences of
such guarantees.
View
Back Issues of What's New:
August
2004
July
2004
June
2004
April-May
2004
March
2004
January-February
2004
December
11, 2003
November
5, 2003
September
15, 2003
May
18, 2003
April
11, 2003
March
17, 2003
February
20, 2003
February
7, 2003
January
24, 2003
December
17, 2002
November
22, 2002
October
29, 2002
October
23, 2002
September
30, 2002
September 12, 2002
August
26, 2002
July
19, 2002
July
08, 2002
June
14, 2002
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