[Deuda-QdQ] para ir mirando ley CESCE: Sakhalin II: No US or UK ECA Financing

[Mónica Vargas]

Hola,
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.
Un abrazo
Mónica

 

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*From:* Doug Norlen [mailto:DNorlen en pacificenvironment.org]
*Sent:* Tuesday, March 04, 2008 12:39 AM
*To:* eca-global en eca-watch.org; judith en fern.org
*Subject:* Sakhalin II: No US or UK ECA Financing

 

Hi folks,

 

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!

 

Please spread far and wide!

 

YIPPEE!!!

 

Doug

******

 

 

 

March 4, 2008

 

Press Advisory

For more information: 

 

Doug Norlen, Pacific Environment +1 202 465 1650, 
dnorlen en pacificenvironment.org <mailto:dnorlen en pacificenvironment.org>

David Gordon, Pacific Environment +1 510-541-5334, 
dkgordon en pacificenvironment.org <mailto:dkgordon en pacificenvironment.org>

Dmitry Lisitsyn, Sakhalin Environment Watch, +7 4242 74 75 18, 
sakhalinwatch en yandex.ru <mailto:sakhalinwatch en yandex.ru>

James Leaton, WWF-UK, +44 (0)1483 412513, +44 (0)7766 153974, 
jleaton en wwf.org.uk <mailto:jleaton en wwf.org.uk>

 

*Environmental Victory:*

 

*Sakhalin** II Announces It Cannot Get Financing *

*from US and UK Export Credit Agencies*

 

/Sakhalin Environment Watch, Pacific Environment, WWF and other groups 
celebrate Sakhalin Energy's abandoned attempt at public financing from 
the United States and the United Kingdom./

 

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 Sakhalin 
Island 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. 

 

"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 Aniva Bay, where project sedimentation is negatively 
impacting our local scallop fisheries."  

 

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.

 

"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.

 

In recent weeks, environmental organizations met with high level 
officials in Ex-Im Bank and other US 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. 

 

"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."

 

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 Scotland, 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.

 

"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 Chukchi Sea," said James Leaton, WWF.

 

For more information, please visit Pacific Environment at 
www.pacificenvironment.org 
<https://mail.pacificenvironment.org/exchweb/bin/redir.asp?URL=http://www.pacificenvironment.org/>.

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