I am struggling to see why the EBRD should be financing Shell / Sakhalin II Consortium at all. I think that would fall in to the crowding out regular lender category.
EBRD's mandate is to help finance Russia's emerging economy, which implicitly means being a prudent lender or investor to businesses where there are no established means to finance them. A Shell-led consortium does not meet those conditions. If it cannot find projects to fund within its mandate then I would suggest that it return capital to its investors - otherwise known as governments, and they to their tax payers.
EBRD financing not critical for Sakhalin II - Gazprom:
MOSCOW, January 17 (RIA Novosti) - A senior Gazprom [RTS: GAZP] official said Wednesday that financing from the European Bank for Reconstruction and Development was not critical for the current phase of the Sakhalin II hydrocarbon project off Russia's Pacific coast.
18 January 2007
EBRD and Gazprom
I am struggling to see why the EBRD should be financing Shell / Sakhalin II Consortium at all. I think that would fall in to the crowding out regular lender category.
EBRD's mandate is to help finance Russia's emerging economy, which implicitly means being a prudent lender or investor to businesses where there are no established means to finance them. A Shell-led consortium does not meet those conditions. If it cannot find projects to fund within its mandate then I would suggest that it return capital to its investors - otherwise known as governments, and they to their tax payers.
EBRD financing not critical for Sakhalin II - Gazprom:
MOSCOW, January 17 (RIA Novosti) - A senior Gazprom [RTS: GAZP] official said Wednesday that financing from the European Bank for Reconstruction and Development was not critical for the current phase of the Sakhalin II hydrocarbon project off Russia's Pacific coast.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment