Gazprom, Shell to complete Zapolyarnoe, Sakhalin-2 talks in a year
02.09.2005, 06.02
http://www.itar-tass.com/eng/level2.html?NewsID=2372527&PageNum=0
NEW YORK, September 2 (Itar-Tass) — Gazprom and Shell will complete
negotiations and sign the necessary documents on the exchange of
assets in the framework of the Zapolyarnoe and Sakhalin-2 projects in
a year, according to Gazprom deputy head Alexander Medvedev.
He told a press conference on Thursday the coordinating committee on
the deal met in London a day before and decided to have all basic
documents signed by August 2006.
Medvedev said the situation with Sakhalin-2 has changed due to new
data on capital investments.
“In principle the situation makes the deal more attractive for us
then before. The imbalance in assets that was initially in favor of
Shell will most likely be in our favor now if all the announced
figures are confirmed”, he said.
He explained Shell might have to offer additional assets to balance
the deal as both companies agreed to compensate for any imbalance
both in cash and in assets.
