Monday, September 25, 2006

The energy giants

• Sakhalin-2 (Shell, Mitsubishi and Mitsui)

Vladimir Putin: control
Estimated to have 45 billion barrels of oil and substantial gas reserves. Environmental approval for the project withdrawn because of alleged ecological damage.
• Sakhalin-I (Exxon-Mobil, Rosneft, ONGC)
Estimated to have 2.5 billion barrels of oil and 17.1 trillion cubic metres of gas. Held up by Russian environmental watchdog and Gazprom.
• Kharyaga (Total, Hydro and Nenets)
The third and final PSA, Kharyaga, much smaller than Sakhalin. Estimated to have 57.4 million tonnes of oil.
• BP'S Kovykta: BP had hoped to turn this large gas field in Russia's Far East into a main source of gas for energy-hungry China in a $20 billion project but cannot since Gazprom says it alone is allowed to export gas.
•Gazprom's Shtokman: Gazprom needs technology to tap the field in the Arctic Barents Sea and liquefy natural gas to ship to America. Plans to choose foreign partners for the $20 billion project stalled this summer. The move came after US vice-president Dick Cheney accused Russia of using energy as a tool of intimidation and blackmail.

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