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23 Feb, 2007 04:34

Gazprom to tackle Sakhalin-2 problems

Gazprom to tackle Sakhalin-2 problems

Russia's gas monopoly Gazprom and the Natural Resources Ministry are teaming up to solve environmental problems in the Sakhalin-2 oil and gas project. The project almost ground to a halt last autumn because of ecological violations. 

In December, 2006, Gazprom took a controlling stake in the $US20 BLN project.

The company is also consolidating all its export operations under one entity – Gazpromexport.

The decision affects all Gazprom's subsidiaries, including Gazpromneft, formerly Sibneft.  Gazprom says the move will boost its export capacity and increase financial transparency.