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<title>[eca-global] [Fwd: [BTmemb] Sakhalin ECGD & EXIM
applications
withdrawn]</title>
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Hola,<br>
Les estoy pasando acá abajo una noticia importante, fruto de la lucha
de la red Ecawatch (la red de monitoreo de las ECAs o aseguradoras de
créditos a la exportación, tal y como es CESCE en el Estado español).
Se ha logrado que las ECAs de Estados Unidos y Gran Brataña no
financien un megaproyecto de gas y petróleo en la isla de Sakhalin
(Rusia). Es un precedente que nos servirá en la preparación de la ley
CESCE. <br>
Un abrazo<br>
Mónica<br>
<div class="Section1">
<p class="MsoNormal"><font color="navy" face="Arial" size="2"><span
style="font-size: 10pt; font-family: Arial; color: navy;"><o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="navy" face="Arial" size="2"><span
style="font-size: 10pt; font-family: Arial; color: navy;"><o:p> </o:p></span></font></p>
<div>
<div class="MsoNormal" style="text-align: center;" align="center"><font
face="Times New Roman" size="3"><span style="font-size: 12pt;">
<hr tabindex="-1" align="center" size="2" width="100%"></span></font></div>
<p class="MsoNormal"><b><font face="Tahoma" size="2"><span
style="font-size: 10pt; font-family: Tahoma; font-weight: bold;">From:</span></font></b><font
face="Tahoma" size="2"><span
style="font-size: 10pt; font-family: Tahoma;"> Doug Norlen
[<a class="moz-txt-link-freetext" href="mailto:DNorlen@pacificenvironment.org">mailto:DNorlen@pacificenvironment.org</a>] <br>
<b><span style="font-weight: bold;">Sent:</span></b> Tuesday, March 04,
2008
12:39 AM<br>
<b><span style="font-weight: bold;">To:</span></b> <st1:PersonName
w:st="on"><a class="moz-txt-link-abbreviated" href="mailto:eca-global@eca-watch.org">eca-global@eca-watch.org</a></st1:PersonName>;
<a class="moz-txt-link-abbreviated" href="mailto:judith@fern.org">judith@fern.org</a><br>
<b><span style="font-weight: bold;">Subject:</span></b> Sakhalin II: No
<st1:country-region w:st="on">US</st1:country-region> or <st1:country-region
w:st="on"><st1:place w:st="on">UK</st1:place></st1:country-region> ECA
Financing</span></font><o:p></o:p></p>
</div>
<p class="MsoNormal"><font face="Times New Roman" size="3"><span
style="font-size: 12pt;"><o:p> </o:p></span></font></p>
<div id="idOWAReplyText21477">
<div>
<p class="MsoNormal"><font color="black" face="Arial" size="2"><span
style="font-size: 10pt; font-family: Arial; color: black;">Hi folks,</span></font><o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><font face="Times New Roman" size="3"><span
style="font-size: 12pt;"> <o:p></o:p></span></font></p>
</div>
<div>
<p class="MsoNormal"><font face="Arial" size="2"><span
style="font-size: 10pt; font-family: Arial;">Thanks to everybody who
has helped over the many years
on this! Sorry that it took so long but the coalition finally
got it done!</span></font><o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><font face="Times New Roman" size="3"><span
style="font-size: 12pt;"> <o:p></o:p></span></font></p>
</div>
<div>
<p class="MsoNormal"><font face="Arial" size="2"><span
style="font-size: 10pt; font-family: Arial;">Please spread far and
wide!</span></font><o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><font face="Times New Roman" size="3"><span
style="font-size: 12pt;"> <o:p></o:p></span></font></p>
</div>
<div>
<p class="MsoNormal"><font face="Arial" size="2"><span
style="font-size: 10pt; font-family: Arial;">YIPPEE!!!</span></font><o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><font face="Times New Roman" size="3"><span
style="font-size: 12pt;"> <o:p></o:p></span></font></p>
</div>
<div>
<p class="MsoNormal"><font face="Arial" size="2"><span
style="font-size: 10pt; font-family: Arial;">Doug</span></font><o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><font face="Arial" size="2"><span
style="font-size: 10pt; font-family: Arial;">******</span></font><o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><font face="Times New Roman" size="3"><span
style="font-size: 12pt;"> <o:p></o:p></span></font></p>
</div>
<div>
<p class="MsoNormal"><font face="Times New Roman" size="3"><span
style="font-size: 12pt;"> <o:p></o:p></span></font></p>
</div>
<div>
<p class="MsoNormal"><font face="Times New Roman" size="3"><span
style="font-size: 12pt;"> <o:p></o:p></span></font></p>
</div>
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<div>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;">March 4, 2008</span></font><font
color="black" face="Arial" size="2"><span
style="font-size: 10pt; font-family: Arial; color: black;"><o:p></o:p></span></font></p>
</div>
</div>
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<div>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;"> <o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;">Press Advisory<o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;">For more information: <o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;"> <o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;">Doug Norlen, Pacific
Environment +1 202
465 1650, <a href="mailto:dnorlen@pacificenvironment.org"
target="_blank">dnorlen@pacificenvironment.org</a><o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;">David Gordon, Pacific
Environment +1
510-541-5334, <a href="mailto:dkgordon@pacificenvironment.org"
target="_blank">dkgordon@pacificenvironment.org</a><o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;">Dmitry Lisitsyn, Sakhalin
Environment
Watch, </span></font><span class="bodygrey1"><font color="#333333"><span
style="color: rgb(51, 51, 51);">+7 4242 74 75 18, <a
href="mailto:sakhalinwatch@yandex.ru" target="_blank">sakhalinwatch@yandex.ru</a></span></font></span><font
color="black"><span style="color: black;"><o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;">James Leaton, WWF-UK, +44
(0)1483 412513,
+44 (0)7766 153974, <a href="mailto:jleaton@wwf.org.uk" target="_blank">jleaton@wwf.org.uk</a><o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;"> <o:p></o:p></span></font></p>
<p class="MsoNormal" style="text-align: center;" align="center"><b><font
color="black" face="Times New Roman" size="5"><span
style="font-size: 16pt; color: black; font-weight: bold;">Environmental
Victory:</span></font></b><font color="black"><span
style="color: black;"><o:p></o:p></span></font></p>
<p class="MsoNormal" style="text-align: center;" align="center"><font
color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;"> <o:p></o:p></span></font></p>
<p class="MsoNormal" style="text-align: center;" align="center"><st1:place
w:st="on"><b><font color="black" face="Times New Roman" size="4"><span
style="font-size: 14pt; color: black; font-weight: bold;">Sakhalin</span></font></b></st1:place><b><font
color="black" size="4"><span
style="font-size: 14pt; color: black; font-weight: bold;">
II Announces It Cannot Get Financing </span></font></b><font
color="black"><span style="color: black;"><o:p></o:p></span></font></p>
<p class="MsoNormal" style="text-align: center;" align="center"><b><font
color="black" face="Times New Roman" size="4"><span
style="font-size: 14pt; color: black; font-weight: bold;">from US and <st1:country-region
w:st="on"><st1:place w:st="on">UK</st1:place></st1:country-region>
Export Credit Agencies</span></font></b><font color="black"><span
style="color: black;"><o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;"> <o:p></o:p></span></font></p>
<p class="MsoNormal"><i><font color="black" face="Times New Roman"
size="3"><span
style="font-size: 12pt; color: black; font-style: italic;">Sakhalin
Environment
Watch, Pacific Environment, WWF and other groups celebrate Sakhalin
Energy’s abandoned attempt at public financing from the <st1:country-region
w:st="on">United States</st1:country-region> and the <st1:country-region
w:st="on"><st1:place w:st="on">United Kingdom</st1:place></st1:country-region>.</span></font></i><font
color="black"><span style="color: black;"><o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;"> <o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;">Late yesterday Sakhalin Energy
Investment
Company, Ltd. (Sakhalin Energy) told Dow Jones that it is withdrawing
applications for hundreds of millions of dollars in public financing
for the
crisis-plagued Sakhalin II project from the US Export Import Bank
(Ex-Im Bank)
and the UK Export Credit Guarantee Department (ECGD). This
announcement
is a triumph for local environmental groups that have formed a
coalition with
national and international environmental organizations to block
billions of
dollars in public and private financing due to the chronic
environmental
impacts of the project. Sakhalin II, the world’s largest integrated
oil and gas project, located on and off-shore of <st1:place w:st="on"><st1:PlaceName
w:st="on">Sakhalin</st1:PlaceName> <st1:PlaceType w:st="on">Island</st1:PlaceType></st1:place>
in the Russian Far East, has been plagued by environmental problems,
including
threats to the critically endangered Western Gray Whales, damage to
wild salmon
spawning grounds, and negative impacts to indigenous and fishing
cultures. <o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;"> <o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;">“We celebrate this tremendous
victory,” said Dmitry Lisitsyn, Chairman of Sakhalin Environment
Watch. “Since its inception over a decade ago, Sakhalin II has
committed severe environmental violations of these public banks’
policies. Every day new negative impacts are being seen, including now
in
<st1:place w:st="on"><st1:PlaceName w:st="on">Aniva</st1:PlaceName> <st1:PlaceType
w:st="on">Bay</st1:PlaceType></st1:place>, where project sedimentation
is
negatively impacting our local scallop fisheries.” <o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;"> <o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;">Dow Jones reported that
Sakhalin
Energy’s decision to withdraw financing was due to “serious
concerns over possible delays” in financing. However, Sakhalin
Energy’s statement neglects to mention that for five years the company
has been unable to secure billions of dollars in public and private
financing
due in large part to the company’s failure to demonstrate compliance
with
banks’ environmental policies. In 2007, the public European Bank
for Reconstruction and Development withdrew its consideration for
financing of
Sakhalin II in large part because the project could not demonstrate
environmental policy compliance.<o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;"> <o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;">“This announcement demonstrates
that
the Sakhalin II project’s environmental problems are irreversible
violations of the environmental standards of these public banks,” said
David Gordon, Executive Director of Pacific Environment.<o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;"> <o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;">In recent weeks, environmental
organizations
met with high level officials in Ex-Im Bank and other <st1:country-region
w:st="on"><st1:place w:st="on">US</st1:place></st1:country-region>
agencies
amidst widespread rumors within the government that Ex-Im Bank and
possibly
ECGD would cause the Sakhalin II application to be withdrawn as a way
to
avoid having to officially decline financing due in great part to
environmental
non-compliance. <o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;"> <o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;">“We are happy that Ex-Im Bank
and
ECGD ultimately did not support a project that would compromise the
integrity
of their environmental policies,” said Doug Norlen, Policy Director,
Pacific Environment. “But the banks had a responsibility to state
their rejection publicly, rather than sneaking out the back door by
asking
Sakhalin Energy to withdraw its application.”<o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;"> <o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;">The withholding of Ex-Im Bank
and ECGD
financing for Sakhalin II greatly increases the political, financial
and
reputational risks of any other bank that has, or is still considering
financing for the controversial project, including the Royal Bank of <st1:country-region
w:st="on"><st1:place w:st="on">Scotland</st1:place></st1:country-region>,
and
the Japan Bank for International Cooperation, respectively. Also, the
withholding of financing sends a strong message to oil companies
seeking
approval and financing for highly risky projects in the Arctic region.<o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;"> <o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;">"Shell’s consistent failures on
Sakhalin II provide a stark example of why oil companies shouldn't be
allowed
into vulnerable Arctic regions such as the US Bristol Bay and <st1:place
w:st="on"><st1:PlaceName w:st="on">Chukchi</st1:PlaceName> <st1:PlaceType
w:st="on">Sea</st1:PlaceType></st1:place>,"
said James Leaton, WWF. <o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;"> <o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman" size="3"><span
style="font-size: 12pt; color: black;">For more information, please
visit Pacific
Environment at <a
href="https://mail.pacificenvironment.org/exchweb/bin/redir.asp?URL=http://www.pacificenvironment.org/"
target="_blank">www.pacificenvironment.org</a>.<o:p></o:p></span></font></p>
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