Sakhalin II Update:

The Sakhalin II project is seeking up to USD $5B from the European Bank for Reconstruction and Development (EBRD) and Export Credit Agencies (ECAs) of the US, UK and Japan.
    A. 33 NGOs Demand Banks and ECAs Refuse Sakhalin II Financing Without EIA Improvements [PDF]
May 5, 2005 (Source: ECA Watch) — A group of 33 NGOs have asked the EBRD, and ECAs JBIC, US Ex-Im Bank and ECGD to not move forward with financing for the Sakhalin II oil and gas project until it complies in full with the banks' policies. In particular, they cite problems with the Sakhalin II Phase 2 Environmental & Social Impact Assessment material submitted to lenders by Royal Dutch/Shell and the Sakhalin Energy Investment Company, Ltd.
    B. Russia Accuses Sakhalin Energy of Inflicting $2.6B Damages
May 6, 2005 (Mosnews, Russia) — The Russian Audit Chamber has accused Sakhalin Energy Investment Company, the Sakhalin II operator, of breaking a product-sharing agreement which led to USD $2.6B in damages.
    C. BankTrack Issues Briefing on Sakhalin II
April 2005 (Source: BankTrack) — The group PLATFORM has authored a briefing for BankTrack providing banks with arguments why they should not step into the Sakhalin II project. It comes in two versions, for Equator Principle signatory banks, and other private banks. Read the briefing for banks signatory to the Equator Principles (PDF). Read the briefing for other private banks (PDF). Learn more and take action at the Rainforest Action Network web site. Read more BankTrack educational fact sheets on private finance.
    D. Sakhalin II Dumping in Aniva Bay Ruled Illegal
May 12, 2005 (Source: Sakhalin Environment Watch, via RAN) — The Sakhalin Regional Office of Public Prosecutor has exposed violations of Russian environmental law regarding the granting of a license to Sakhalin Energy for the dumping of dredging waste near the construction of a Liquified Natural Gas terminal in Aniva Bay, part of the controversial Sakhalin II oil and gas project. Read a related April 2005 item: Shell Moves Pipeline to Avoid Whales as Subcontractors Dump Dredging Waste on Valuable Fishery.