From: MSN NicknameEagle_wng (Original Message) Sent: 2/9/2007 1:24 AM British Trade Secretary Alistair Darling / Photo: Stephen Mansfield British Trade Secretary Alistair Darling / Photo: Stephen Mansfield British Trade Secretary Tells Russia to “Play by the Rules”
09.02.2007
MosNews British Trade Secretary Alistair Darling warned Russia on Thursday, Feb. 8, that it should “play by the rules” and ensure “legal certainty” for British investors. Darling spoke at the end of his three-day visit to Moscow. His sharp comments followed talks with Russia’s Finance Minister Alexei Kudrin, which were designed to shore up Britain’s interests in Russia in anticipation of a troubled period of diplomacy. Britain was Russia’s biggest foreign investor last year with 2.8 billion pounds invested in the first nine months. Mr Darling said he raised his concerns that foreign investors in Russia were not facing clear ground rules with Mr Kudrin and the Industry and Energy Minister, Viktor Khristenko. He criticized the state-run energy company Gazprom’s takeover of a majority stake in Shell’s huge Sakhalin-2 oil and gas project in December. “There was an initial backlash following Sakhalin and they [the Russians] are aware of that,” he said, quoted by The Guardian. On BP’s problems at its Kovykta gas field, he said: “What we have said is that people are now apprehensive, and it would be far better if these matters were settled in accordance with established laws.” Russia’s environmental watchdog, Rosprirodnadzor, reported last month that the Russo-British venture TNK-BP was in breach of its license because it had underexploited the field. It is widely thought the breach claim is a means of persuading TNK-BP to cede control of the field to Gazprom. Shell’s Sakhalin-2 was paralyzed by similar accusations of environmental violations, which disappeared once Gazprom took a 50 percent plus one share stake. Analysts say there is a concerted effort by the Kremlin to seize control of the oil and gas sector, the engine of Russia’s booming economy. Russian officials admit privately that they feel cheated by some of the production-sharing deals signed on disadvantageous terms with British companies such as Shell in the 1990s. A new law to go before the State Duma this year is expected to formalize the practice that state-run companies get a controlling stake in major oil and gas projects. Mr Darling’s comments yesterday came as Lord Jenkin of Roding, a former energy minister, told the House of Lords that any moves by Gazprom to buy the largely British-owned Centrica should be “knocked on the head”. He accused Russia of “shamefully bullying” Shell and using energy as an instrument of foreign policy.
Acknowledgement: All available information and documents in "Justice For North Caucasus Group" is provided for the "fair use". There should be no intention for ill-usage of any sort of any published item for commercial purposes and in any way or form. JFNC is a nonprofit group and has no intentions for the distribution of information for commercial or advantageous gain. At the same time consideration is ascertained that all different visions, beliefs, presentations and opinions will be presented to visitors and readers of all message boards of this site. Providing, furnishing, posting and publishing the information of all sources is considered a right to freedom of opinion, speech, expression, and information while at the same time does not necessarily reflect, represent, constitute, or comprise the stand or the opinion of this group. If you have any concerns contact us directly at:
eagle@JusticeForNorthCaucasus.com
