Word: sakhaliner
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Medvedev is the paragon of a top corporate-statist-technocrat executive for the new Russian corporate state. Prior to 2002, when he came to head Gazpromexport, Medvedev had never been involved with natural gas. Born in the far eastern island of Sakhalin to the family of a Soviet air force officer, he left the island in his teens. In 1978, upon graduation from the fabled Phystech, Moscow's Institute of Physics and Technology--Russia's answer to M.I.T.--Medvedev, who majored in automated control systems, got a job with the Institute of World Economy and International Relations (IMEMO...
...runs his business the same way he plays his hockey--sharp and concentrated in handling passes--and he scores, says the associate. Medvedev also hits as hard as the Kremlin wants. One such hit shook Sakhalin Energy (SE), operator of the Shell-led Sakhalin II consortium. At $20 billion, it is the world's largest integrated oil-and-gas-export project, with total reserves of some 4 billion bbl. of oil equivalent (BOE) and total project capacity of 395,000 BOE per day, including 9.6 million tons per year of liquefied-natural-gas production. It is also the largest single...
...among countries heavily dependent on imported oil and gas, which include the U.S. and the E.U., plus the rocketing economies of China and India. That necessity is a powerful weapon in this new battle. Shortly before Christmas, Russian President Vladimir Putin forced Royal Dutch Shell to cede control of Sakhalin II, the world's biggest oil and gas project, to the state-owned giant Gazprom, opening the North Pacific island's vast resources to Asian markets. The $7.45 billion price was small to Gazprom, whose value has soared from $9 billion in 2000 to $270 billion today, after years...
...President Dick Cheney. In December, Russia threatened to cut gas to two other former Soviet republics, Georgia and Belarus, unless they paid higher prices; and the Anglo-Dutch oil firm Shell bowed to pressure to let state-owned Gazprom gain control of a $20 billion natural-gas project in Sakhalin Island, shocking foreign investors...
Drilling for oil and gas around the harsh, remote island of Sakhalin in Russia's Far East was never going to be easy, but a political chill has put some of the world's biggest energy projects in an unexpected deep freeze. In the decade since they [an error occurred while processing this directive] negotiated separate drilling agreements with Russian authorities, ExxonMobil and Royal Dutch Shell have gone way over budget and incurred the wrath of leading environmental groups. But last week, the two oil majors faced their biggest challenge so far: a Kremlin backlash that could hold...