By James Quinn
Last Updated: 12:05am GMT 01/01/2007
Royal Dutch Shell and its Japanese partners in Sakhalin-2 are to re-examine the financing of the $20bn (£10.2bn) energy project after their deal to sell a controlling stake to Russia’s Gazprom.
Shell, Mitsubishi and Mitsui are due to speak to the four potential project lenders about whether or not the four will potentially still invest in the scheme.
The talks will begin later this month amid suggestions that one of the four – the European Bank of Reconstruction and Development – does not now want to provide a €400m (£270m) loan as the project is effectively state-owned. Gazprom, which is owned by the Russian state, took a controlling stake of 50pc plus one share in Sakhalin-2 days before Christmas after the three original investors each sold half of their stakes in return for a total $7.45bn cash.
The sale took place after the Russian government led a year-long campaign of disruption, during which it threatened to cancel construction permits on environmental grounds and also threatened not to approve requests to double the investment plan.
A Shell spokesman said yesterday: “Gazprom is a valuable partner. We must now determine the next steps and engage with the lenders.” The other prospective lenders indicated on Sakhalin’s website are the Japanese Bank for International Co-operation, the US Export-Import Bank, and the British Government’s Export Credit Guarantee Department. Each will have its own views on the level of control Gazprom exerts on Sakhalin, but it is clear that arranging the financing for the project will not be plain sailing.
The EBRD is said to have not made a final decision on its role, but one source was quoted as saying that the project had been effectively nationalised as a result of Gazprom’s involvement.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/01/01/cnsakh01.xml
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
