The EBRD has put back its decision on whether to take part in the financing of the US$20 billion Sakhalin II LNG project till September. Previously, it was hoped that a decision would be delivered by May following a four month assessment and consultation stage started last December. The EBRD has set up a Sakhalin II project page on its website setting out its decision making process and providing information on the project and the EIA.
The EBRD opened public consultation on the potential financing of Sakhalin II (Phase 2) on 20 December 2005. This will be a tough decision for the EBRD to make, as there has been a large amount of campaigning in relation to this project, yet equally there has been a vast quantity of environmental and social assessment undertaken to identify and investigate the potential risks. It is clear that the EBRD will make a fully informed decison.
The EBRD’s final decision is likely to to influence other Financial Insitutions who are considering financing the project.
For those who are interested in reading some of the environmental concerns raised by third parties, the Sakhalin Environmental Watch Website provides a compilation of the various NGO’s campaigns in relation to the project.