EBRD consult on Shell's Sakhalin II1 March 2006
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Oil giant Shell wants UK taxpayers to pay for its new oil and gas development off the island of Sakhalin in Russia 's Far East.
It has asked the European Bank for Reconstruction and Development (EBRD) to provide a loan for $300 million for the Sakhalin II project.
When built Sakhalin II will be the largest integrated oil and gas project in the world.
On 28th February, the EBRD held a public consultation meeting on funding for the project.
The meeting is one of six that's taking place during the consultation period. The others are happening on the island itself, in Moscow and in Britain and Japan.
According to the EBRD, comments from these meetings will help determine if the project is financed by them.
No public money for Shell's Sakhalin project
Shell wants to build a new drilling platform adjacent to the summer feeding grounds of the western Pacific grey whale.
Experts say that the development could be disastrous for the whales, with just 100 of the mammals known to be alive.
Shell are asking for the public funding even though they made over £13 billion profit this year.
Yet again, Shell has clearly put oil and profits before environmental protection. The Bank should be ashamed to be even considering this project which breaches the very environmental standards it says it requires.
Mary Taylor, Friends of the Earth Sakhalin Campaigner
Work has already begun
On-shore pipelines spanning 800km of Sakhalin Island cross valuable salmon spawning grounds, which feed the island's fishing industry.
Local environmentalists have documented many instances of bad construction including:
- Damage to streams from pipeline construction
- Water polution from silt accumulation
- Dredging spoils dumped into the important fishing waters of Aniva Bay
Sakhalin is a unique wildlife haven, home to wild bears, reindeer, and coastal birds including the Steller's Sea Eagle and the highly endangered Nordmann's greenshank.
Friends of the Earth believes that the EBRD should not be investing taxpayers' money in projects which fuel climate change and that destroy biodiversity.
Instead, the EBRD should invest our public money in clean green energy projects.
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